Federal judge's decision could be a blow for the privacy rights of crypto users
The Internal Revenue Service will likely not be penalized for obtaining records on a crypto user from Coinbase or Abra. A federal judge has implied that an individual may not have the right to force the Internal Revenue Service, or IRS, to expunge financial records it obtains from crypto exchanges.In granting a motion to dismiss filed in December, Judge Joseph DiClerico in the District of New Hampshire suggested the Internal Revenue Service has no obligation to honor requests to purge crypto transaction records it received from Coinbase or other exchanges regarding information for federal....
Related News
The U.S. federal government is making substantial advances towards accessing encrypted smartphone data. If authorities get their way, it could lead to severe privacy implications for bitcoin users. The Feds Are Gaining Access to Smartphone Data. A recent Florida court proceeding details a man named Aaron Stahl was allegedly using his iPhone to take....
Soon to be on trial, alleged Silk Road operator Ross Ulbricht is dealing with yet another rejection when it comes to his complex case. Most recently, Ulbricht - who federal officials suggest was known as "Dread Pirate Roberts" on the illicit Silk Road website - and his legal counsel suggested that the FBI's means of investigating Ulbricht was illegal and a breach of privacy rights, given the Bureau allegedly hacked his servers without proper warrants. Judge Katherine Forrest wasn't exactly having the defense, bringing up the point that Ulbricht hasn't admitted to own the servers. As such,....
The U.S. Department of Justice's enforcement framework may pose a serious threat to the digital privacy rights of crypto users.
The IRS can now serve bitcoin and ether exchange startup Coinbase with a summons for information about its users, a federal judge ruled today. In an order dated 30th November, Judge Jacqueline Scott Corley sided with a request filed earlier this month by the IRS as part of its bid to investigate alleged tax violations in the US pertaining or connected to digital currency use. When reached for comment, Coinbase said that it expected the order and that it would release a formal statement. The company later said: "We are aware of, and expected, the court’s ex parte order today. We look....
A Nigerian Federal Court judge recently ruled that the two frozen bank accounts belonging to Rise Vest Technologies, which is accused of trading cryptocurrencies, must be reopened. CBN’s Bank Account Freeze Order Dismissed In a ruling that overturns the Central Bank of Nigeria (CBN)’s August 17 decision to freeze the bank accounts, Judge Taiwo Taiwo is quoted by The Nation insisting that the central bank could not simply rely on a mere circular when deciding to close an account. In addition, the news outlet quotes the judge explaining in his ruling that the CBN’s....