Tax,
Government,
Banking,
Administrative/Regulatory
Jan. 26, 2018
IRS and cryptocurrencies: Coinbase is just the beginning
Last year a California federal court ordered Coinbase to provide the IRS with certain records related to all Coinbase users who bought, sold, sent or received more than $20,000 worth of cryptocurrencies in a single year between 2013 and 2015.
Bill Cheng
Associate
Carlton Fields Jorden Burt, P.A. C
Email: bcheng@carltonfields.com
Bill counsels in the areas of taxation and general corporate and securities law, with a particular focus on emerging technology companies.
BLOCKCHAIN AND THE LAW
Last year was a breakout year for cryptocurrencies. At its height, bitcoin's value increased by more than 20 times from the start of the 2017, and ether and litecoin saw gains of more than 80 times. As prices soared, the number of cryptocurrencies also proliferated as thousands of companies, big and small, lasting and ephemeral, sought to issue their own cryptocurrencies in lieu of traditional financing.
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In