Following the suite filed by the government of the United State through IRS against Coinbase for not allowing them to have access to the data of their customers.The government according to the blog post update on the court proceeding from Coinbase on November 4 reads;
Nearly one year ago, the IRS initiated proceedings to obtain copies of essentially all our U.S. customers’ records for the three-year period 2013–2015. The government has never alleged any wrongdoing on the part of Coinbase. Coinbase has persistently opposed the government’s summons, not because we were looking to pick a fight, but because we felt it was important to stand up for our customers and the industry.
The government initially sought private financial records of approximately 500,000 account holders. In response to Coinbase’s continuing fight, the IRS significantly reduced the scope of the summons to approximately 14,000 customers
Read More: https://bitzamp.com/coinbase-vs-government/
I smell psychological warfare. But I am leaning towards the coinbase system since this is where I belong. Biased, yes I am. Although, to be honest, the government should be supreme over all business interests because the government's cause is for the greater good. I am very skeptical about this though. Nonetheless, I hope there would be a compromise between these two parties so as not to cause unnecessary chaos.
The coinbase system has grew substantially across all borders, and hence, you would not want to pick a fight with it. In the same vein, we must know that the Constitution of the land dictates that we all must submit to our government authorities for proper regulation and protection of the entire citizenry.
