Look like the pressure for coinbase to release its customers information is increasing. Coinbase being forced to release all of its customers information and many now think the IRS is stepping beyond the line, to me I think the IRS are abusing its power.
Basically coinbase respond was they will give out information for only certain users that are violating with proof, but not everyone. Til this date doesn’t seem like the IRS have any specific user that they would like to see at coinbase. Some think this is the mentality of the IRS abusing its power, some others think IRS testing its power and ability, eventually IRS will get something.
Eventually the IRS will get something from coinbase, but probably not everyone’s account. Maybe users whom have high volume of transactions, or transactions occurred too frequently, or users that cannot provide details behind where they got the money or the Bitcoin (cryptos currencies from)
This appear to be impacting users in the USA only, if you have a bank account in the US or resident address in the USA. The IRS appears to be only targeting coinbase, although there are many others bitcoin exchange in the USA out there, some Bitcoin exchange from abroad service US customers also through wire transfer but doesn’t government doesn’t appear to be interested.
