The taxman is going after US Bitcoin traders

Bitcoin fees are “skyrocketing”


The Internal Revenue Service (IRS) won a lawsuit in the United States that will require Coinbase to disclose information about its customers.

According to a report by The Verge Coinbase – a popular cryptocurrency exchange – must share the data of users who bought, sold, sent or received more than $ 20,000 on their accounts in one single year, between 2013 and 2015.

It is estimated that there are 14,355 individuals, said Mr. Coinbase.

The IRS estimates that “a large number of customers” do not declare their investments in cryptocurrency.

Coinbase will now have to disclose user names, birth dates, addresses, taxpayer IDs and any account activity.

Now read: Zcash Cryptocurrency Converter in USD Rate

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