Moving an asset from one blockchain to another through a bridge, which typically locks the original and issues a representation on the destination chain. The IRS has not said whether a bridge is a taxable exchange.
The conservative view treats a bridge like a swap; the common practitioner view treats it as a transfer of the same asset when the bridged token is redeemable one-for-one. Bridges also break the basis trail, so the transfer has to be matched on both sides.
Unsettled. Most practitioners treat a one-for-one bridge as a non-taxable transfer and document it. Bridges that give you a different, non-redeemable token look more like an exchange.
Source: No IRS guidance as of September 2026
Last reviewed September 17, 2026. Tax rules change; confirm current law before acting.
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