Hi,

coinbase wallet app (not the trading platform, but the separate wallet app) recently introduced a new function that allows conversion between erc-20 tokens such as usdc, dai, etc.. 

my question is 1) does this actually get reported to irs like the trading platform does when you make a trade.  I assume no since the wallet is anonymous, they cant really report it.  2) is this considered a tax event by irs? if i convert say from usdc to dai, it's just a 1:1 conversion, do i have to report it to irs