Hi,
This question is for USA residents only.

I understand that tax must be paid whenever there is income.
For example, lets say I bought ETH yesterday at $600.
Today I invested in an ICO that allows US residents.
Lets assume ETH reached $650 today.
I have to report $50 as income even though I exchanged one coin to another without converting to fiat.
But in the video he says receiving coins from an ICO is taxable.
That is what I don't understand.
Thanks so much