Coinbase ordered to give the IRS data on users trading more than $20,000
On Wednesday, a federal judge in San Francisco ruled that Coinbase must supply the IRS with identifying information on users who had more than $20,000 in annual transactions on its platform
Based on this Judgement IRS may ask coinbase and other platforms like bitstamp,LBC to provide data from time to time
Will this effect the bitcoin price ?
https://www.yahoo.com/news/coinbase-ordered-turn-over-data-235635616.html
On Wednesday, a federal judge in San Francisco ruled that Coinbase must supply the IRS with identifying information on users who had more than $20,000 in annual transactions on its platform
Based on this Judgement IRS may ask coinbase and other platforms like bitstamp,LBC to provide data from time to time
Will this effect the bitcoin price ?
https://www.yahoo.com/news/coinbase-ordered-turn-over-data-235635616.html
I don't understand how anyone could be surprised of these things, or interpret it as FUDdish... this is the normal business as usual. If you are using a gateway of the financial banking system to bitcoin, then you are going to need to comply with the laws. You can't expect to be trading millions while the IRS does nothing about it. Coinbase asks for private details to handle them to the government. If you don't like it, find other ways, but we can't really blame Coinbase for complying with the law.. it is how they run their business.