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Largest US Bitcoin Exchange Ordered To Disclose Three Years Of User Data To IRS

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#1
Largest US Bitcoin Exchange Ordered To Disclose Three Years Of User Data To IRS
http://www.zerohedge.com/news/2016-...ge-ordered-disclose-three-years-user-data-irs

We concluded our report by wishing "Good luck to Coinbase fighting the IRS: if America's tax collector is intent on getting the identities of the biggest traders are in America's largest bitcoin exchange, it will certainly succeed (especially if they happen to be conservatives)."

Alas, our best wishes were not enough, and yesterday a federal court in the Northern District of California ordered Coinbase to disclose what the IRS has demanded: all American user transactions from 2013 to 2015.
The executed DOJ order:
https://www.justice.gov/opa/press-release/file/914226/download

Despite the order, Coinbase has vowed to continue the fight: "We look forward to opposing the DOJ's request in court after Coinbase is served with a subpoena," a spokesman for the San Francisco-based company said in an email to Reuters.

Coinbase remains concerned with its U.S. customers' privacy rights in the face of the government's request, he added, although he is likely far less concerned than any people who used Coinbase from 2013 to 2015, and who may soon be getting a visit from the taxman, even if they have done nothing illegal. As for the myth that trading bitcoin by ordinary Americans provides some additional layer of privacy, that is about to be thoroughly debunked.

Now the question is what head of the hydra will take over to protect the privacy?

Unfortunately, it won't matter.
 

Nomis Elpmis

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#2
Ouch...
 

Professur

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#3
Anyone not see this coming?
 

Mujahideen

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#4
Buy Bitcoin with prepaid CC.

Get a burner smart phone, use prepaid internet, pay with cash, use it to buy Bitcoin.
 

the_shootist

The war is here on our doorstep!
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#6
Just another salvo in the civil war we're in. Legacy MSM and government are on their hells, need a distraction right now while also sending a message to Americans who have ever bought/sold BTC....we know who you are!!!
 

Goldhedge

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#7
Won't it all be encrypted?
 

solarion

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#8
Won't it all be encrypted?
No, because coinbase has been slowly complying with "know your customer" bs "laws" for the last few years. People would link their bank accounts to coinbase to allow them to buy and sell bitcoins conveniently. Naturally anytime you do anything with your own currency the nosey control freaks in DC have to know all about it.

Just use local bitcoin + cash. At least until they get rid of cash too.
 

anywoundedduck

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#9
Bitcoin. Just another flash in the pan. Another "Goldduck Prophesy" come true.
 

solarion

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#10
lol Yes! Obviously if US gumbymint goons don't like it and attack yet another exchange it's going to kill bitcoin...a global digital currency.

Wish I had a bitcoin for all the times I've heard about bitcoin's imminent demise.



Yeap...dead as a door nail.
 
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#12
Bitcoin. Just another flash in the pan. Another "Goldduck Prophesy" come true.
Don't tell them that.

They think it is better than Gold.

https://bitcointalk.org/index.php?topic=508270.0

I have a feeling most of the "pro Bitcoin" folks hold way more gold than Bitcoin and were in on the ground floor.

One thing the gold community should be wary of though is all the forex and day traders that the Bitcoin ecosystem is creating over there.

Once they leak in heavily be sure that they will attempt to short everything to make Bitcoin shine the brightest.