IRS Cracks Down on Coinbase Users -

2017: "With the quickly growing cryptocurrency industry, the IRS is demanding to see the records of thousands of Coinbase users. Cryptocurrency has come a long way since its first real-world transaction in 2010. However, the industry’s growth seems to have attracted the attention of the US Internal Revenue Service (IRS) who are demanding to gain access to thousands of Coinbase users’ records.

According to the IRS, Coinbase allows users to convert cryptocurrency into US Dollars which are not compliant with IRS reporting policies. Coinbase and other cryptocurrency trading platforms are currently fighting these allegations in court. The platforms claim that the IRS’ claims are unfounded and that their demand infringes upon their users’ right to privacy.

2017: "With the quickly growing cryptocurrency industry, the IRS is demanding to see the records of thousands of Coinbase users. Cryptocurrency has come a long way since its first real-world transaction in 2010. However, the industry’s growth seems to have attracted the attention of the US Internal Revenue Service (IRS) who are demanding to gain access to thousands of Coinbase users’ records.

According to the IRS, Coinbase allows users to convert cryptocurrency into US Dollars which are not compliant with IRS reporting policies. Coinbase and other cryptocurrency trading platforms are currently fighting these allegations in court. The platforms claim that the IRS’ claims are unfounded and that their demand infringes upon their users’ right to privacy.