Bitcoin users identities will be deciphered. Will Coinbase explain user information?
An official request was sent by the US court to share user information with Coinbase, one of the largest Bitcoin procurement platforms. According to the court's decision, Coinbase has to share with the court all the details of users who have traded more than $ 20,000 between 2013 and 2015, account movements and even to whom the money is sent. According to Coinbase's knowledge, the number of users who received requests is 14,355.
When opening accounts on local or global stock exchanges, all users must share their credentials and it is apparent that such information is the first place where this information will work. Coinbase will share each user's name, birth date, address, tax number (the identity number for individual users), account transactions, accounts that send money, and all known information about them.
This decision, which is very disturbing to the Bitcoin world, can be a bad example of financial confidentiality.
The IRS, ie US Treasury, wants U.S. citizens who earn a certain income over Bitcoin to pay income tax and for this purpose they started to follow Bitcoin stock exchanges operating in USA
If the IRS begins to receive tax from Bitcoin, Without the control of the central authority, which is Bitcoin's starting point, the idea of tax-free, unpunished money management will become meaningless.
The lack of any basis of the request of the Government, from any financial institution in the future, it shows that such requests could be made. There needs to be more concrete grounds on why these users' information was requested.
You can see the court ruling here
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