Do you get taxed for swapping crypto?

I'm curious about the taxation implications of swapping cryptocurrencies. When you exchange one type of crypto for another, do you have to pay taxes on the transaction? How does the IRS or other tax authorities view such transactions? Are there any specific rules or regulations that apply to cryptocurrency swaps? And what about the potential for capital gains or losses from these swaps? Can you provide a clear explanation of how taxation works in this context?