Realize gains on crypto → stablecoin trades

Hi team,

I would really like to see an option in the settings to toggle "Realize gains on crypto → stablecoin trades?”

Some tax jurisdictions make crypto swaps/trades tax exempt, but require capital gains on Crypto > Stablecoin trades/swaps.

Ireland is one of these jurisdictions, and even outlined in the Koinly guide - Ireland Cryptocurrency Tax Guide 2021 | Koinly

Currently the only option that exists is “Realize gains on crypto → crypto trades”. If this includes stablecoins it makes Koinly unusable for people who need to separate the two, and a lot more manual effort.

Hi Derek,

Could you tell me where you have seen these rules?

As far as we know, all crypto to crypto trades are taxable events in Ireland and our tax guide also states this:

Hi Petur, I’m referring to your guide it states token & coin swaps are tax-free.

Tax Free
The following crypto activities are tax-free in Ireland:

  • Buying Crypto
  • Token & Coin Swaps
  • Transferring Crypto Between Own Wallets
  • Buying Goods and Services

How is a Token / Coin Swap different from a trade? That is where my confusion lies, are you not referring to VAT exempt?

I interpret these as one and the same in your guide since the heading says Tax Free. So to me that seems contradictory to the later part of the guide that you’ve shown. I’m sure I may not be the only one misunderstanding the guide here so some clarity would go a long way.

Appreciate the help here as always!

You are not the first one to be confused by this Koinly vocabulary. Everyone outside of Koinly seems to understand “Swap” like you do but in Koinly a swap is when a project moves to another coin or token. E.g. the project had an ERC20 token at the beginning and now created their own blockchain, like Vechain did (VEN → VET). “Swap” has nothing to do with e.g. trading on Uniswap.

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Thanks that makes much more sense.

Hi again,

Don’s reply is correct. We use the term ‘Swap’ to refer to any tax-free swaps such as migrations (eg. VEN to VET), wraps (eg. BTC to WBTC) and other such events (eg. depositing ETH on AAVE and receiving aETH instead)
We started using this term before DEXes became popular and started using it when referring to regular trades. We are looking into changing our terminology since it is very confusing.


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It would be already very helpful if there was a help window (like a small question mark button) where you could get some information to the kind of transaction you are planning to use.

“other such events (eg. depositing ETH on AAVE and receiving aETH instead)”

Just to confirm on the above, this is for Ireland only? For example, I was under the impression that in the UK depositing ETH on Aave and receiving aETH back was a taxable event?


I replied to your other thread: