Coinbase will report 14,355 users instead of 500,000 users to the IRS

[CryptoGirl]

Coinbase has won a partial victory in their ongoing legal battle with the IRS regarding the disclosure of private user information. According to Coinbase, the government initially sought records on over 500,000 users in their efforts to catch tax cheats. After months of legal wrangling, Coinbase announced that the IRS has reduced their records request to only 14,000 users, a 97% reduction.

Anyone moving more than $20,000 on the platform is subject to the new order

A California federal court has ordered Coinbase to turn over identifying records for all users who have bought, sold, sent, or received more than $20,000 through their accounts in a single year between 2013 and 2015. Coinbase estimates that 14,355 users meet the government’s requirements. The full order is embedded below.

https://blog.coinbase.com/coinbase-obtains-partial-victory-over-irs-dac041db59a3

https://www.theverge.com/2017/11/29/16717416/us-coinbase-irs-records

https://cointelegraph.com/news/coinbase-wins-partial-victory-over-irs-government-data-request-reduced

[Pipeline]

Figured it would be those with the highest amounts that would be the target. It would be a waste of time going after small amounts. Wonder why they decided on $20,000 as the base, wonder how many of the 500,000 users are between $10,000 and $20,000?