I've only entered into crypto very recently and had a question.

If I swap BTC or an altcoin for a stablecoin like USDT or USDC or DAI.

Is that swap considered a taxable event?

Or only If i convert that stablecoin into INR?

The reason I ask is I was listening to a podcast/interview recently and the person mentioned that even these conversions into stables is a taxable event. Of course he was talking about UK tax laws.

Any thoughts?