bobthebuilder

I guess my next question is if the action of wrapping BTC is considered as "exchanging tokens for a different type of token"?

I'm trying to understand how the process of wrapped crypto assets should be treated in the context of CGT. For example, I have 1BTC and wish to use it on the Ethereum blockchain by converting the BTC token into a WBTC. I am not technically disposing of it as such and merely moving it from one blockchain to another, and the conversion is always 1:1, minus transaction fees. Is there any guidance available on whether this would generate a taxable event, other than the tx fee component?