# I swapped ETH for USDC twice in one year

Each swap is a disposal of ETH for Capital Gains Tax. USDC is a separate pool when acquired. Report total gains and proceeds on SA108 if you meet reporting thresholds.

## Situation

Alex swapped ethereum for USDC stablecoin twice on a decentralised exchange. No pounds hit their bank account.

## What to do
- Record sterling value of ETH disposed on each swap date
- Note fees and build USDC pool cost at receipt value
- Sum annual proceeds — check £50,000 reporting rule

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— Digital Assets UK (https://digital-assets.co.uk/scenarios/swapped-eth-for-usdc-twice/), reviewed 2026-06-23.