IRS vs Coinbase
https://www.theguardian.com/technology/2016/nov/27/coinbase-bitcoin-irs-government-summons-data-cryptocurrencyNot sure..if the IRS say gets its way that anyone trading BTC is considered a Tax Cheat risk (the coinbase we want your database of all folk to check by IRS because
just buying BTC on coinbase is enough for us to get all your million users files..ie our assumption anyone buying crypto and btc on coinbase is likely a tax cheat..or why
the blanket summons?
Then adoption at least in USA could be 'stymied' ie ..if IRS thinks BTC business on coinbase is likely tax cheats enough to get all these files..then banks could claim the
same etc ..ripple effect.
The catch is the IRS has gotten such types of blanket files before.
They have WON in a case like this with FedEx and DHL etc that was also a large grab bag everybody summons
http://www.forbes.com/sites/robertwood/2014/12/20/irs-issues-john-doe-summons-to-fedex-dhl-ups-hsbc-in-massive-offshore-account-hunt/#70b2534a2d71Thus IF the IRS is successful in the short term at least will act like a boat anchor and slow price/growth/adoption of BTC imho
Because then ALL banks (if not already) all exchanges worldwide will adopt these methods...thus shooting off another round of FUD and the 'evil' BTC..even if likely
only a small amount of tax cheats would/could even be caught..it will be enough press FUD to keep it all in a nice cluster.....for the foreseeable future...
thus slowing adoption....giving banks time for R9 ...and generally keeping the whole BTC and cyrpto adoption down and away from the masses
hope I'm wrong...but the IRS action on coinbase does not strike me as a 'reasonable' first step..IF you give a damn about cryptocurrency...does seem to be a logical
first step if it scares the crap out of you as a government, however