According to an email which was sent to around 13,000 customers, Coinbase confirmed that it will provide only certain information to the Internal Revenue Service (IRS). The exchange will definitely provide taxpayer ID, name, birth date, address, and historical transaction records for certain higher-transacting customers during the 2013-2015 period.
Coinbase will provide this information within next 21 days.
If you have concerns about this, we encourage you to seek legal advice from an attorney promptly.
This action originally started when Coinbase failed to comply with the summons. This ‘battle’ began in 2016 when the tax agency initially sought data on 500,000 Coinbase users.
According to an order from the United States District Court for the Northern District of California in November, it stipulated that Coinbase must provide data of more than 13,000 users that had seen over $20,000 trading volume from 2013 to 2015. But in the email, the exchange claims that the number of users was reduced and it is partial, but still a significant victory.