Is The IRS Justified In Demanding Information On Millions Of Bitcoin Users?

Unchained

Laura Shin

News, Tech News, Business News

4.6 • 1.3K Ratings

🗓️ 24 January 2017

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

The IRS found three entities using bitcoin to evade taxes and has now demanded the records of millions of users at Coinbase, the largest U.S. cryptocurrency exchange. An accountant and an attorney specializing in cryptocurrency discuss whether the IRS is overreaching, how this "unprecedented" case differs from previous ones pursued by the IRS, and what they think the ultimate outcome will be. Read the show notes. Other links: Coinbase Berns Weiss LLP Global Tax Accountants Brian Armstrong's response on Medium My magazine feature on Coinbase This episode was sponsored by Onramp. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is brought to you by Krakhan.
0:03.0	Crypto is like finance, but different.
0:06.0	It doesn't care when you invest, trade or save, do it on weekends,
0:11.0	or at 5 a.m.
0:12.0	Or on Christmas Day, at 5 a.m. or on Christmas day at 5 a.m.
0:15.2	crypto is finance for everyone, everywhere all the time.
0:19.4	Visit crackin.com slash see what crypto can be to learn more. Don't invest unless you're prepared to lose all the money you invest this is a high risk investment and you should not expect to be protected if something goes wrong
0:29.9	Make match days easy with Google Pay. Journey across town.
0:34.0	Tap in and save time.
0:36.0	Pub Gone Cashless.
0:37.0	Just tap and save stress.
0:39.0	Fast, safe, simple.
0:41.0	Match days made easy with Google Pay.
0:43.6	Add a card to Google Wallet.
0:45.6	Hi everyone.
0:50.6	Welcome to Unchained, a podcast produced by Fractive Recording, and put out by me your host
0:55.9	Laura Shin, a Forbes contributor covering blockchain, cryptocuracies, and FinTech.
1:01.8	Thanks for tuning in.
1:03.0	If you've been enjoying this podcast, please review, rate, and subscribe to Unchained on iTunes
1:08.7	or wherever you get your podcasts.
1:11.1	It helps get word out about the show.
1:13.0	I'd like to extend a thank you to our sponsor, OnRamp.
	...

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