(USA) Is crypto swaps from V1 to V2 taxable? and does it reset the long term trade timer?

Tax Questions
#1

So lets say I have a crypto xyz. They find a bug or something in the code, and they need to update it. But the only way to do it is by switching from v1 to v2. This means you have to swap your xyz v1 coin with v2.

  1. Is this capital gain taxable?
  2. Does this reset your timer to the point where you have to hold it 12 months from the swap for it to count as long term?
#2

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