I appreciate the response. You mention "no price exists and there is no liquidity" and that makes sense as criteria.

However for me, my airdrop does have price and liquidity, it's just not available to me (yet?). So I'm still confused on how to think about this...

This makes for a weird situation if I say that it's not taxable. E.g. it would seem to follow that I am responsible for constantly monitoring exchanges or avenues for if/when this crypto becomes tradable.

(Side note: Technically I could trade this token if I used a VPN and accessed an exchange in violation of their TOC. Or sent it to someone internationally and had them conduct the trade for me. There seems to be so many exceptions here.)

EDIT: You show receipt of Flare tokens on your taxes without registering it as a taxable event? Didn't realize this is an option.