IRS v. Coinbase
The IRS and Coinbase Exchange battle it out in Court
It appears that the Internal Revenue Service, the tax enforcement arm of the United States Government, is attempting to strong arm the exchange Coinbase into releasing the records of 14,000 of it's platforms users. Coinbase is currently in federal court fighting the measure, saying that the request from the IRS amounts to a giant "fishing expedition" and that no evidence of tax avoidance could be presented.
"The Government has now ‘narrowed’ its requests, providing no evidence to support its contentions and no explanation for why it has done so," an attorney for Coinbase wrote.
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Of course the IRS is doing this. This is the way they will try and stop the cryptos, through the hunt for taxes and intimidation.
This is all governments can do in the face of their systems failing... punish the people.
Just like with marijuana, firearms, and a whole host of things that they unjustly want to control. Why make it outright illegal under law if you can use taxes to the same effect. When they first outlawed marijuana they didn't actually make it illegal. They forced people to buy a tax stamp in order to possess or cultivate it. The problem was that you needed to either cultivate or possess it first in order to get the stamp, thus incriminating yourself. It was later deemed unconstitutional for this very reason.
they are going mad seeing how the crypto market is growing,they will try all means possible to put a leash on cryptocurrencies