Quote Originally Posted by Aimless View Post
The recent tax bill appears to have ensured that crypto-only transactions (eg. exchanging bitcoin for ethereum) are no longer covered by the "like kind exchange" exemption. It's clearly a recent change. I think some exchanges have been required to identify a large number of accounts that have incurred tax liabilities as a result of this change.
I'm not familiar yet with changes from the recent tax bill, but crypto exchanges were never covered by the "like kind exchange" exemption. That's been a persistent belief in crypto circles, but the IRS has said for years now that you can't do like-kind exchanges with crypto.