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.
It is noncustodial but it is owned by Coinbase which can not make me trust the wallet. But normally,it is not like custodial wallets or exchanges, there should be privacy and not such report.
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
Converting from one coin to another are not taxed, only gain are taxed.