Bitcoin service ordered to hand over two years of user records to IRS

Today in Northern California District Court, a federal judge ordered the Bitcoin wallet service Coinbase to hand over records of all transactions that took place during 2014 or 2015, as part of a larger investigation into possible tax fraud by Coinbase users.“The taxpayers being investigated have not been or may not be complying with U.S. internal revenue laws requiring the reporting of taxable income from virtual-currency transactions,” the IRS wrote in its request. As a result, the