Coinbase, a leading US cryptocurrency exchange, has been ordered to give the IRS the account details of users who bought, sold, sent, or received $20,000-plus worth of Bitcoin between 2013 and 2015 to help the regulator investigate potential cases of tax avoidance on the exchange, after it discovered conspicuously few Bitcoin-related gains and losses filed for 2015.
The IRS originally wanted a far wider set of information that would have affected between 1 million and 480,000 users, but narrowed its request following uproar about user privacy. Some 14,000 users will be affected.
However, the ruling may benefit the US cryptocurrency space as a whole. Read more here.