So I’m still trying to understand the stable coin. I got some USDC from Coinbase, but if I exchange this to buy bitcoin, is this a taxable event even if I’m buying bitcoin with a 1:1 USD backed stablecoin? I know crypto to crypto coins being exchange is considered a taxable event, but does this apply for stable coins as well? So if I got 1000 USDC, put that into bitcoin, would that be a $1000 “gain”?
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