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Cryptocurrency Enforcement News


December 2, 2016 - A Judge Just Cleared the Way for the IRS to Seek Coinbase Customer Data
"We are aware of, and expected, the court’s ex parte order today. We look forward to opposing the DOJ’s request in court after Coinbase is served with a subpoena. As we previously stated, we remain concerned with our US customers’ legitimate privacy rights in the face of the government’s sweeping request."

December 2, 2016 - Bitcoin wallet service ordered to give IRS 3 years of user data
The taxpayers being investigated have not been or may not be complying with US internal revenue laws requiring the reporting of taxable income from virtual-currency transactions,” the IRS wrote in its request for the information, according to The Verge.

December 1, 2016 - Court Authorizes Service of John Doe Summons Seeking the Identities of U.S. Taxpayers Who Have Used Virtual Currency
A federal court in the Northern District of California entered an order today authorizing the Internal Revenue Service (IRS) to serve a John Doe summons on Coinbase Inc., seeking information about U.S. taxpayers who conducted transactions in a convertible virtual currency during the years 2013 to 2015. The IRS is seeking the records of Americans who engaged in business with or through Coinbase, a virtual currency exchanger headquartered in San Francisco, California.

November 21, 2016 - Bitcoin exchange processor likely to fight IRS summons -legal analyst
"There are two questions here. One is whether or not (the IRS has) reasonably identified a class of individuals and has a reasonable basis for believing that all U.S. customers for Coinbase from 2013-2015 may have failed to comply with laws based on these three users," he said. "Two is whether the information sought by IRS is not available from any other reasonable source than Coinbase." (Reporting by Dion Rabouin; Editing by Sandra Maler)

November 21, 2016 - Bitcoin Users Who Evade Taxes Are Sought by the I.R.S.
Coinbase and other companies that buy and sell Bitcoins are required by regulators to record the identities of people who buy and sell virtual currency on their platforms.

November 21, 2016 - IRS Targeting Bitcoin-Using Tax Evaders
If thy comply with the request, Coinbase will be required to hand over the identity and transaction history of it’s 3 million customers. As of now Coinbase does not plan to comply. ” We can’t tolerate sweeping fishing expeditions. We are very concerned about the financial privacy rights of our customers,” said Coinbase’s legal counsel, Juan Suarez, who said the business keeps a policy focused on working with law enforcement.

November 21, 2016 - Bitcoin Users Who Evade Taxes Are Sought by the I.R.S.
The tax agency sent a broad request on Thursday to Coinbase, the largest Bitcoin exchange in the United States, asking for the records of all customers who bought virtual currency from the company from 2013 to 2015.

November 21, 2016 - Coinbase Will Take IRS to Court Over Consumer Privacy Attack
“Our customers may be aware that the U.S. government filed a civil petition yesterday in federal court seeking disclosure of all Coinbase U.S. customers' records over a three year period. The government has not alleged any wrongdoing on the part of Coinbase and its petition is predicated on sweeping statements that taxpayers may use virtual currency to evade taxes.”

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