Actually no. When using an "exchange" you are trading or exchanging one coin for another. They are at the same value at the time of purchase. DUH!! When swapping back it's the same idea. Having to be taxed on each exchange is really pointless. Now if you are purchasing coins for an ICO, for example, I can understand potentially recording the initial price and then the cash out value.

The article in Bloomberg and other media outlets stating this new U.S. tax bill changes like-kind trades and each trade is a taxable event, is probably fake news that will be retracted later. This was all being reported before anyone even knew what was in the bill. And most people still don't even know what's in the bill other than the big stuff like tax brackets and % for people and corporations. I think it's a political stunt and I have yet to see any links or images within these articles to prove any of it anyway. Until then I'll call it unsubstantiated and, therefore, fake news...