The partial, but nevertheless a victory for Coinbase and its clients

The American exchange Coinbase notified on February 23 13 000 users that their information was transferred to Internal Revenue Service (IRS).

Representatives of IRS initially addressed the Coinbase exchange in July 2017 with a request to transfer detail information about more than 500 000 users to find those who evade paying taxes. In November 2017 the judicial instruction in which already smaller number of users, about 14000 “active” users figured was received. At the moment the platform reports about data transfer of only 13 000 users. Coinbase calls this situation “the partial, but nevertheless the considerable victory for the exchange and its clients”.

On Friday Coinbase notified about 13 000 clients that the company will be stimulated to provide in IRS, within 21 days from the moment of annunciator the following information: the taxpayer identification number, a name, date of birth, the address and history of transactions from 2013 to 2015.

The letter of the Coinbase exchange to such clients suggests “to address urgently the lawyer” if they have any questions or doubts. Also on the web site Coinbase it is said that a part of questions reveals in the section FAQ.

Judicial proceedings between Coinbase and the U.S. Government are pulled since November 2016 when IRS submitted a claim against “the unidentified person” to district court Northern the Districts of California, USA.

On February 13 the personal financial Credit Karma service published the data showing that during submission of tax declarations only 0,04% of their clients reported about cryptocurrency assets in the declarations.


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