Absolutely. All crypto exchanges from one to another are considered property exchanges where you have to recognize a gain. In contrast, I believe major currenci

Absolutely. All crypto exchanges from one to another are considered property exchanges where you have to recognize a gain. In contrast, I believe major currencies which are recognized as such have some favorable treatment so that if you are just a traveler who goes to England you aren’t on the hook because the GBP goes up vs USDbut don’t take that as tax advice.