Coinbase Must Give Info To IRS For Transactions Over $20K

Law360, Los Angeles (November 30, 2017, 4:57 PM EST) -- A California federal judge on Wednesday handed the Internal Revenue Service a partial win in the agency's bid to seek records from Coinbase Inc., saying the virtual currency exchange must hand over information on accounts with transactions of greater than $20,000.

In an order, U.S. Magistrate Judge Jacqueline Scott Corley said Coinbase must provide the taxpayer ID, name, date of birth and address for the accounts, but not copies of passports, driver's licenses, wallet addresses and public keys for accounts because they were not relevant for investigating tax delinquency among account holders.

"The summons as narrowed by the court serves the...

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