Bitcoin exchange Coinbase is handing over user information to the IRS

ArticleCurrencyFebruary 28, 2018 - 6:38:20 AM

Coinbase informed its users that it would be soon providing some of its customers' data to the IRS.

If you’ve made thousands or even millions of dollars on cryptocurrencies, be sure to report your winnings to the Internal Revenue Service before someone else does it for you.

Coinbase, one of the largest cryptocurrency exchanges, told customers Friday it will turn over 13,000 users’ data to the IRS within the next 27 days. The move comes in response to an IRS order issued in November 2016 to send records of users who bought bitcoin BTC, -1.48% between 2013 and 2015 so the agency could determine who was evading cryptocurrency taxes. Coinbase initially resisted the order, but ultimately agreed to send the information of “higher-transacting” customers during that time...

Source:merketwatch.com

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