Coinbase is claiming a partial victory, but a federal judge ruling yesterday means the exchange will have to turn over identifying records for all users who purchased, sold, sent, or received more than $20K through their accounts in any year from 2013-2015.
That is a major ruling. Earlier today we predicted a continued roller coaster ride to the downside this week, so buckle up. There’s more:
The company will have to give to the IRS name, birth date, address, taxpayer ID, and all trading records for an estimated 14,355 users. The IRS can then presumably trace to all outside accounts and counterparties.
Coinbase notes the IRS initially requested records for all of the exchange’s users, a measure the judge said was excessive.
Bitcoin is lower by about $2K from yesterday’s high to $9,354. Ether is off about $100 to $410.