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A comment on Tether loaned USDT to investors and illegally traded in New York, says NYAG. Parent comment

Re:Tether loaned USDT to investors and illegally traded in N... by giaour on Wednesday July 10, 2019 @07:48AM (#20401023)
Receiving the proceeds of the sale of one crypto currency in another crypto currency doesn't magically wipe out your tax liability. Your capital gains are still taxable, just as they would be if you bartered stocks without first selling your holdings.
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Re:Tether loaned USDT to investors and illegally traded in N... by koolba on Wednesday July 10, 2019 @09:52AM (#20401928)
Oh for sure. I didn't mean to imply it was a good idea. For anybody in the USA this is not going to be a legal winner as any transformation from crypto A to crypto B is going to be a taxable event.

I bet there's still plenty of people using this for tax purposes, either misguidingly for tax avoidance or explicitly for tax evasion.

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