Coinbase to Send Users Data to the IRS

In the coming weeks, crypto exchange Coinbase will provide data on some of its customers to U.S. tax authorities  
26 February 2018   840

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.

Coinbase

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.

Coinbase to Launch Services for Newbie Traders

Coinbase Bundle, Coinbase Asset Pages and Coinbase Learn are designed to "help people understand, explore, and buy their first cryptocurrency"
28 September 2018   364

The leading US cryptocurrency exchange Coinbase, has introduced several services for novice users.

Coinbase Bundle allows to invest in several crypto assets, including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin. At the same time, the specific weight of each currency in the user's portfolio is formed in accordance with the share of these assets in the market. The minimum investment in the Bundle is only $ 25.

Coinbase Bundle Service
Coinbase Bundle Service

The update is positioned by Coinbase as a convenient tool to acquire all five of the listed cryptocurrencies without having to create a separate order for each coin.

The platform will be used by users of the platform from the US, EU countries and Great Britain. The commission for the acquisition of Bundle is 1.5%.

Also, the company introduced the Coinbase Asset Pages service, which displays information on 50 leading crypto-currencies, including their market capitalization, the current price and its changes, as well as links to relevant information sources.

Coinbase Asset Pages
Coinbase Asset Pages

Coinbase Asset Pages is available to everyone and is not limited to the user base of the company.

In addition, the company introduced the educational service Coinbase Learn, designed to familiarize users with the basics of working with crypto-currencies.