I’d like to opt into this event but I don’t want to create a taxable event for myself. If I purchase $1,000 worth of USDC and I convert it all to Bitcoin or XRP for example, will that be a taxable event for the IRS? I know if I purchased Bitcoin directly without buying USDC first then I’m sure that wouldn’t be a taxable event since I’m not converting. Does anyone have any info regarding this topic? I’d like to opt in tonight before midnight if that’s possible, thank you.
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