IRS orders Coinbase to give info

Anyone moving over 20k. The crack down begins.

Not like we didn’t know this was coming though.

https://techcrunch.com/2017/11/29/coinbase-internal-revenue-service-taxation/

This is why I use third party offline to exchange BTC. Can never be too sure with official channels. In fact, about more than a week ago while on another thread, another member asked why did I pay such a high fee with third party exchange when I can just go online to sell my BTC easily with zero fees. Well I guess the reason is pretty obvious now.

Note depending upon your tax treaty of your country of origin, profits from BTC are taxable. In my case, the tax is as high as 30% of my net profits.