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   1268

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 List Stellar

As reported, at first, the coin will not be available to residents of the UK and the state of New York
19 March 2019   183

Wallet and mobile applications (for iOS and Android) from leading American cryptocurrency company Coinbase now support Stellar Lumens digital asset (XLM).

Stellar’s cryptocurrency, the Stellar Lumen (XLM), powers the Stellar payment network. Stellar aims to connect banks, payment systems and individuals quickly and reliably. Since its launch in 2014, its vision has been to unite the world’s financial infrastructure so that money can flow quickly and cheaply between banks, businesses, and people. The Internet connected the world’s computers so that information could be shared globally. Stellar aims to do the same for money.
 

Coinbase Team

The new asset is available to Coinbase.com users from most jurisdictions. However, at first, the coin will not be available to residents of the UK and the state of New York.