Austria's Tax Rules on Stablecoin Swaps from Bitcoin

Austria's tax laws treat stablecoins as cryptocurrencies when they meet specific criteria. For example, Tether is explicitly mentioned as an example that meets this definition.

When an investor swaps their Bitcoin for a stablecoin, it counts as a crypto-to-crypto transaction if the stablecoin received qualifies as a cryptocurrency. This means the tax liability is deferred rather than cancelled.

The historical acquisition costs of the original asset carry across to the new one, and once the stablecoins are later sold for euros or US dollars, the appreciation originally built up in Bitcoin can become taxable.