IRS wins tax battle with Coinbase
This week, the IRS just won their court case with Coinbase which will now allow the IRS to review the 14,355 coinbase accounts that were used to trade Bitcoin. This means that all those trades and possible profits that were made by those people who used coinbase to hold their tokens will now be required to pay any taxable gains on their profits. This decision might set precedence for upcoming cases involving other cryptocurrency wallets. This goes to show how governments are doing everything in their power to control or get their hands into the cryptocurrency markets.
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