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Cryptocurrency Q&A Is converting USD to USDC taxable?

Is converting USD to USDC taxable?

isabella_bailey_economist isabella_bailey_economist Thu Oct 31 2024 | 6 answers 1253
I'm wondering if converting my US dollars (USD) to USD Coin (USDC) would be considered a taxable event. I want to understand the tax implications of this conversion. Is converting USD to USDC taxable?
converting usd to usdc taxable currency conversion

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