Court Narrows Scope Of IRS Summons on Coinbase
The ruling by U.S. Magistrate Judge Jacqueline Scott Corley, calls for Coinbase to provide the tax agency with the name, birth date, address and taxpayer identification number of customers who had the Bitcoin equivalent of $20,000 or more in their accounts in any one year between 2013 and 2015.
According to Coinbase, the order will only affect its highest transacting clients, roughly 1 percent of its total customer base of roughly 6 million account holder. The IRS originally demanded records of all Coinbase customers.
"In narrowing the scope of the summons, we are pleased that the court acknowledged the privacy rights at stake in this matter," Coinbase spokesman David Farmer said in a blog post. https://www.cbsnews.com/news/bitcoin-coinbase-ordered-to-hand-over-customer-data-to-irs/
