Someone else was talking about transactions being taxable on crypto investment even if you don't bring them back into fiat; but, crypto is so volatile that I don't see how you can figure out whether you've made profit before it gets back into fiat. One transaction might net you a huge profit, but then reinvestment into something else could lose it all. So how can you pay tax on something you no longer have?

They need to simplify it, or maybe they want to make it complicated and scary in order to put people off.