The IRS requirements bitcoin exchange Coinbase provides user information

The IRS requirements bitcoin exchange Coinbase provides user information

The local time on November 20th, the United States Tax Bureau IRS to the most popular bitcoin trading platform Coinbase Coinbase issued a statement, the information of the customer all during the period from 2013 to 2015 to provide.

The northern California district court is gathering information about “JohnDoes”, “JohnDoes” in the United States to refer to some unidentified persons or groups, who conducted the convertibility of virtual currency transactions in January 2013 to December 31, 2015, the citizens of the United States, are surveyed in this list. Therefore, IRS Coinbase is required to provide customer information to search for the JohnDoes.

According to the survey released by the official file IRS, IRS think they have the “good reasons” for this investigation because the user of the Coinbase, quite a lot of people do not comply with U.S. tax laws, there is suspicion of tax evasion.

IRS believes that these potential “JohnDoes class” not only failed to comply with the law, and may even be involved in illegal behavior.

The IRS Coinbase is required to provide the user accounts, bitcoin wallet and registration information, including the user all the archival information, transaction records, revenue balance, destination address and identity authorization information etc..

Not long ago, the U.S. Treasury Department prosecutor issued a statement, “urged the IRS to take additional measures to ensure compliance with the tax law of taxpayers.”

May Coinbase and IRS court. After the digital asset trading platform and law enforcement agencies have had several cooperation, but this is undoubtedly the There was no parallel in history. IRS requirements. Coinbase said in the blog:

Although Coinbase is generally preferred in cooperation with relevant law enforcement agencies, but also worry about the government information will be exposed to more unable to distinguish black from white. For the customer’s privacy information security is very important for us, our legal team is also dealing with requests from IRS. In the current form, we will send the government (IRS) the petition presented in court. We will immediately inform the user of the latest progress of the event.

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