Is USDT to USD taxable?

Could you please clarify whether conversions between USDT and USD are subject to taxation? I'm trying to understand the tax implications of using stablecoins like USDT in my financial transactions. As a cryptocurrency investor, it's essential for me to know if these conversions are taxed in the same way as traditional currency exchanges. Could you provide some insight into this matter? I'm particularly interested in how the tax treatment differs, if at all, between different countries or jurisdictions. Thank you for your assistance in clarifying this point.