The judiciary has ruled in favor of the Internal Revenue Service (IRS) in a case involving the procurement of personal data from cryptocurrency exchange Coinbase. The decision highlights the broad powers of the IRS in enforcing tax compliance, and the limited privacy rights of crypto users. The case involved a decade-long legal battle between the IRS and a Coinbase user, who argued that his privacy rights were violated. However, the judge dismissed his objections and affirmed the IRS's authority to obtain personal data through a summons. Coinbase also reports certain cryptocurrency transactions to the IRS for tax purposes.
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