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Topic: US Govt asking Coinbase to share customer's acts detail - is it the beginning? - page 2. (Read 617 times)

sr. member
Activity: 635
Merit: 251
.US Govt is skeptical about legalizing cryptos.
Considering that they're already legal, that might be quite a difficult task for them.

This could potentially be part of a broader movement in the US to tax BTC earnings and regulate exchanges properly.

Since they're the US though, they'll inevitably do this over several years in a variety of sinister but not quite outright malicious moves that makes everyone hate them while also achieving nothing meaningful.

Everyone already hates the us already right?  Roll Eyes We're lucky they aren't running the world.
hero member
Activity: 1792
Merit: 534
Leading Crypto Sports Betting & Casino Platform
.US Govt is skeptical about legalizing cryptos.
Considering that they're already legal, that might be quite a difficult task for them.

This could potentially be part of a broader movement in the US to tax BTC earnings and regulate exchanges properly.

Since they're the US though, they'll inevitably do this over several years in a variety of sinister but not quite outright malicious moves that makes everyone hate them while also achieving nothing meaningful.
newbie
Activity: 4
Merit: 0
it has already been posted in here, but you should know that they are not asking for those who have been moving more than $20k during the last time, they are only trying to find and get the id's from those who were moving more than $20k on 2015.

Technically, they want anybody who had transactions totalling $20,000 in any one year during 2013-2015. So if you made a handful of trades during the 2013 bubble, there's a good chance that you got netted in this court order.

they are only trying to do it because they know that bitcoin was more than 20 times lower during 2015.

Just make those maths; $20,000 x 20= It is more than $400,000.

That is why they want to get as much information as possible about them.

This case doesn't pertain to prices in 2017. Taxes on capital gains in 2017 aren't due until next year. The IRS is targeting cases within the 3-year statute of limitations on inaccurate tax returns. I don't think it's because the price is now $10,000 because the IRS has been pursuing this case for more than a year already.

I think it's more about scaring bitcoin traders into paying taxes than about catching anyone.

thanks to clarify.

Well, on the other side...US Govt is skeptical about legalizing cryptos. Sharing personal information with Govt agency makes it risky move and paying taxes doesn't seem to make it all stop...rather inviting them to expose other assets and futures...
there're many sides of this move, we might not be able to all though.
newbie
Activity: 83
Merit: 0
This is the beginning, I think deep down we all knew the Gov was going to get involved, at least their not shutting the whole thing  down. Death and taxes
full member
Activity: 280
Merit: 100
The Operating System for DAOs
Well they will have to pay taxes. That is alot of money for us goverment and they will legalize bitcoin I think which is huge and I am bullish on bitcoin overall!
full member
Activity: 826
Merit: 104
i am totally opposite with US.why they will want our details??its really clueless
sr. member
Activity: 454
Merit: 251
it has already been posted in here, but you should know that they are not asking for those who have been moving more than $20k during the last time, they are only trying to find and get the id's from those who were moving more than $20k on 2015.

Technically, they want anybody who had transactions totalling $20,000 in any one year during 2013-2015. So if you made a handful of trades during the 2013 bubble, there's a good chance that you got netted in this court order.

they are only trying to do it because they know that bitcoin was more than 20 times lower during 2015.

Just make those maths; $20,000 x 20= It is more than $400,000.

That is why they want to get as much information as possible about them.

This case doesn't pertain to prices in 2017. Taxes on capital gains in 2017 aren't due until next year. The IRS is targeting cases within the 3-year statute of limitations on inaccurate tax returns. I don't think it's because the price is now $10,000 because the IRS has been pursuing this case for more than a year already.

I think it's more about scaring bitcoin traders into paying taxes than about catching anyone.
legendary
Activity: 1218
Merit: 1007
Well not sure how relevant it is to ask however feeling an urge to know the thoughts floating at this moment in general in the minds of those who are more knowledgeable on Crypto platform than me.
What impact do you see of recent US GOVT decision to ask Coinbase to share customers acct? Coinbase did a well defending fight but to loose eventually to the Big sharks and been ordered to share customer accts having transactions done worth more than 20K. It might just be a beginning however it gives me a bit alarming sense to stay awake and take precautionary actions...I honestly do not know what could that be.

Appreciate thoughts and discussion around it.
As other users have specified, it seems more than less like they're going after those who had transferred a specific quantity and who have had the value balloon into a massive portion of value. If you didn't transfer large amounts like that then I wouldn't be worried to be honest. I used Coinbase and I have yet to get v& if there is something going on, but I should also say that I'm not American.

I'd just start to transition away from online wallets as they start to come after attack from government agencies hunting for information. That's what I'm starting to do.
legendary
Activity: 2478
Merit: 1360
Don't let others control your BTC -> self custody
I'm not in the US, so I'm not worried too much, but I wouldn't like my data to be shared with government agencies, even though i'm ready for that. If you put any information online expect that it can be used against you. If you expect to find yourself in their database and used to trade a lot of cryptocurrency, pack your bags and make sure your coins are well hidden and drives are wiped. I've seen what government agencies can and like to do to people that have the scent of money on them.
sr. member
Activity: 350
Merit: 250
This account was recently hacked
it has already been posted in here, but you should know that they are not asking for those who have been moving more than $20k during the last time, they are only trying to find and get the id's from those who were moving more than $20k on 2015.

they are only trying to do it because they know that bitcoin was more than 20 times lower during 2015.

Just make those maths; $20,000 x 20= It is more than $400,000.

That is why they want to get as much information as possible about them.


THESE COMMENTS WEREN'T WRITTEN BY ME, SOMEONE SCAMMER HAS HIJACKED MY ACCOUNT.  I HAVEN'T POSTED ANYTHING HERE FOR ABOUT TWO YEARS BECAUSE I'M NOT TRADING AT THE MOMENT.  I've changed the password so hopefully that'll stop them.

newbie
Activity: 4
Merit: 0
Well not sure how relevant it is to ask however feeling an urge to know the thoughts floating at this moment in general in the minds of those who are more knowledgeable on Crypto platform than me.
What impact do you see of recent US GOVT decision to ask Coinbase to share customers acct? Coinbase did a well defending fight but to loose eventually to the Big sharks and been ordered to share customer accts having transactions done worth more than 20K. It might just be a beginning however it gives me a bit alarming sense to stay awake and take precautionary actions...I honestly do not know what could that be.

Appreciate thoughts and discussion around it.

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