Coinbase wins some, loses some in IRS court battle
Coinbase, a virtual currency exchange, recently went to court with the IRS over the disclosure of customer's records from 2013 to 2015. The company was able to prevent more than 480,000 customers' records from disclosure, but it will have to disclose data for 14,000 customers, according to a blog post.
These 14,000 customers represent some of Coinbase's highest spending customers. Coinbase is currently reviewing the IRS order and will notify these customers in the event of disclosure.
"Although we are disappointed not to be able to entirely defeat the summons, we are proud to fight for our customers and in the result we were able to achieve as a small company against a large government agency," David Farmer, director of communications at Coinbase, said in the blog.