Coinbase Customer Doubles Down on Legal Action Against IRS
The lawyer fighting a one-man battle against the IRS on behalf of thousands of Coinbase customers has not been swayed by the tax agency's efforts to appease him. Instead of pacifying Coinbase user Jeffrey Berns, the IRS’s change of tack seems to have made him more determined to carry on the fight. In response to a motion to intervene on behalf of Coinbase users filed by Berns via his law firm, Berns Weiss, the IRS yesterday submitted its own amendment to its request for the personal information of thousands of the firm's customers. Since Berns had revealed himself as a Coinbase user in his....
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Just recently, reports of the Ledger customer database breach being dumped on Raidforums for free has become a viral story among cryptocurrency proponents. Now customers are threatening to take legal action against the hardware wallet manufacturer, and one customer has complained of getting an email threatening him with a home invasion. The Ledger wallet customer database leak has caused a lot of anger toward the hardware wallet manufacturer from France. On December 20, 2020, the hackers dumped Ledger’s e-commerce customer database on a well known hacker forum. The dump contained the....
Jeffrey Berns, an attorney representing Coinbase in its legal fight against the Internal Revenue Service summons to provide customer information, recently filed a response to the “John Doe” summons, asking the court to quash the summons in its entirety, order a limited hearing and discovery into government’s good faith, or reconsider its decision to grant the IRS petition. Berns’ motion calls the IRS summons “unprecedented use” of the IRS John Doe summons procedure. Coinbase has said it is committed to customer privacy and opposes the government’s efforts to gain customer information.....
The legal battle between Coinbase and the Securities and Exchange Commission (SEC) took a significant turn as the SEC made a recommendation related to Coinbase’s rulemaking appeal, a crucial component of their mandamus action. Coinbase’s Chief Legal Officer, Paul Grewal, revealed that the SEC communicated with the Third Circuit regarding Coinbase’s rulemaking petition, shedding light […]
Coinbase is handing over customer data to the British tax authority, Her Majesty’s Revenue & Customs (HMRC). The measure affects customers with a U.K. address who received more than £5,000 ($6,450) worth of cryptocurrency during the 2019/20 tax year. On Oct. 2, Coinbase sent an email to its U.K. users advising them that it will share their account information with the HMRC. The exchange said the tax agency originally asked for records relating to all UK customers dating back to 2017, but it later worked out a plan that resulted in “a revised notice with reduced....
Coinbase Vault, first revealed a few months ago, has now implemented a multisig feature that has been demanded far and wide by Coinbase's international customer base. In one fell swoop, Coinbase has set themselves apart from their competitor, Circle, in a big way. Today, Coinbase announced their Multisig Vault, which allows users to control their own private keys on Coinbase. This means that even in the event of Coinbase's untimely demise, bitcoins "stored" in the Coinbase multisig vault would still be accessible to the user. Users would be able to use open source tools, like this one, to....