Yeah this article is useful as well:
https://www.coindesk.com/crypto-tax-2021-guideI dont know where i read it as an income tax event on exchanging cryptos.
That said, what do most do on exchanges, so in my example on binance, you have xlm, want SOL, are you converting to USDT first then taking that and buying the SOL, rather than converting to something in between?
(I still dont see other xlm pairs on binance.us trading though, like btc, which is strange to me as i see it on other trading exchanges)