Deals
Coinbase Loses Bid to Block U.S. Tax Probe of Bitcoin Gains
- IRS sought information on as many as 14,355 customer accounts
- ‘The government has sensed a windfall,’ CryptoCompare CEO says
Stiglitz Says Bitcoin 'Ought to Be Outlawed'
This article is for subscribers only.
Coinbase Inc. lost a bid to block an Internal Revenue Service investigation into whether some of the company’s customers haven’t reported their cryptocurrency gains.
U.S. Magistrate Judge Jacqueline Scott Corley in San Francisco ruled that the tax agency’s demand for information isn’t overly intrusive. The price of bitcoin has been soaring and crossed $10,000 Tuesday.