DOJ lawyers argue Coinbase customers can’t challenge the IRS’s summons
On November 17, the IRS filled a “John Doe” summons targeting transaction records of prominent bitcoin company Coinbase’s bitcoiners registered between January 2013 and December 2015. At the time, the exchange argued it takes user privacy very seriously, and as such it would work towards protecting it. On December 1, a federal judge approved the IRS summons, and demanded Coinbase to reveal user transaction records. Soon, a Coinbase customer named Jeffrey K. Berns, who is also a lawyer, filed a motion to block the IRS’ efforts to access Coinbase users’ records. Since the IRS filed a John....
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The Federal Court of Northern California District rules in favor of the John Doe summons issued on behalf of the IRS to Coinbase. Bad news for the Bitcoin community! In the days following Internal Revenue Service’s (IRS) John Doe summons to Coinbase, the federal court in the Northern District of California has ruled in favor of the department. The ruling comes after Coinbase filed an appeal, seeking clarification about the extent of IRS authority and validity of the summons. With the latest ruling authorizing the IRS to serve John Doe summons to Coinbase, the digital currency platform will....
IRS should have done better to make it easier for the cryptocurrency community to file taxes instead of labeling all Coinbase users as potential tax evaders. The recent incident involving Coinbase and IRS is well known. The US government department responsible for enforcing tax compliance had issued a John Doe summons to the leading cryptocurrency platform. The summons demanded the company to furnish details about all its customers, their entire transaction history from 2013 till 2015 and any other information associated with their accounts. The demands of IRS have been contested by....
Bitcoin exchange Coinbase is under scrutiny by the government agency the IRS, shocking the community. However, it seems Coinbase will be doing everything it can to protect its customer’s data and possibly fight the summons through litigation. Can the IRS Really Sift Through All Coinbase Customers Transactions Over Three Years? As Bitcoin.com reported....
Bitcoin platform, Coinbase has reacted to the John Doe summons issued by IRS demanding information about all users. The conflict of interests between the governments and Bitcoin sector is well known. The increasing adoption of decentralized, peer to peer digital currency has got the governments worrying about the potential loss of control over their respective nations’ monetary policies. The government organizations are trying to compensate for their insecurities by strong-arming the cryptocurrency platforms. The US Government, through IRS, seems to have made one such attempt against....
The U.S. government’s battle to get Coinbase to comply with its summons to provide information about its customers continues. A federal judge has agreed to move a hearing date to March 23 to consider arguments against the summons. On Feb. 3, 2017, Jacqueline Scott Corley, a U.S. magistrate judge, granted the government’s request to continue the hearing date to March 23, 2017 for motions to intervene filed by attorney Jeffrey Berns and Coinbase in their efforts to challenge the summons served by the IRS. Coinbase Fights IRS Summons. Berns, a Coinbase customer and attorney, filed a motion on....