IRS Demands Records of 4.8 Million Bitcoin Users over 3 Alleged Tax Dodgers

[kreslik.news]

San Francisco headquartered Bitcoin and Ethereum exchange Coinbasehas notified its clients that the US government is seeking all the information the firm collected on its clients in the country. The American tax agency, the IRS (Internal Revenue Service), filed a petition in federal court seeking disclosure of all Coinbase US customer records over a three year period, 2013-2015.

The firm explains that the IRS demands are nonspecific to any case and extremely broad in scope: “The government has not alleged any wrongdoing on the part of Coinbase and its petition is predicated on sweeping statements that taxpayers may use virtual ... (read more)