Coinbase Urges Bitcoin Users to Pay Their Taxes

Coindesk is reporting that Coinbase — the largest U.S.-based Bitcoin exchange and the subject of a recently-concluded “John Doe” summons dispute with the Internal Revenue Service — is reminding its customers of their U.S. tax obligations with a new dashboard banner entitled “Please remember to pay your taxes.”  The banner then links to a “Taxes FAQ” page which states, in part, that “[w]e remind all our customers, both U.S. and international, that you have a responsibility to self-report and pay taxes on all taxable gains” and references IRS rules issued in 2014 regarding the tax treatment of digital currency activity. Coinbase’s move to remind its U.S. customers of their tax obligations comes on the heels of a federal judge’s decision in late November to order Coinbase to comply with a “John Doe” summons issued by the IRS seeking information regarding U.S. taxpayers who conducted…

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