> It's also not immediately obvious to the uninitiated what should happen when you swap one asset for another, like when you trade DOGE for BTC.

When I swap between MSFT and AAPL, I trigger capital gains, because sale of one realizes my (formerly paper) gain or loss.

Why should crypto be privileged? Why should people who don't even understand how traditional investments work, and are speculatively trading in a novel instrument get to cite ignorance as an excuse?