SoylentNews

Coinbase Ordered to Report 14,355 Users to the IRS

posted by janrinok on Tuesday December 05 2017, @10:22AM   
from the tax-man-cometh dept.

An Anonymous Coward writes:

The Verge reports

[On November 29], Coinbase suffered a major defeat at the hands of the Internal Revenue Service, nearly a year after the case was initially filed. 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.

---

Original Submission

• Re:Firetrucks instead of sprinkler systems? (Score: 2) by All Your Lawn Are Belong To Us on Tuesday December 05 2017, @09:37PM

  by All Your Lawn Are Belong To Us (6553) on Tuesday December 05 2017, @09:37PM (#605830) Journal

  The comment you replied to specified:

  Defense, the Justice system, Law and Order.

  I can't see how fire brigades fit in that.

  Order. The creation and regulation of fire services is upheld in law, usually. Not dissimilar to the licensing of physicians.
  The regulation of how they are paid for - taxes - is upheld in order.
  Further, it is a system. While you can isolate a single element, certainly we do this all the time, nevertheless jaw and justice and EMS and Fire and park service and gobs of other things are in government. You seemed to be proposing that law will go away and contracts will take over. But I am saying that will not occur. Because Fire, for starters.
  I know one variation of the Libertarian dream is that everyone is free to act without law encumbering them or having intrusive government around. I also believe that to be a lovely dream. But also a fantasy.

  But I'll do it on your terms: How do you propose police should work?

  Law and Order is a service.

  No, it isn't.

  Note that contracts are not the law. But the law is what makes (legal) contracts universally enforceable. Without a government-supported law, contracts would be pointless: The stronger one doesn't need them because he can enforce his interests anyway, while the weaker one isn't helped by a contract that he cannot enforce. It is exactly the government with its institutions which make enforceable contracts possible.

  Also, there are situations where you need protection without a contract. If someone puts a gun at your head and demand your money, you can well ask him for a contract that says he may not point a gun at your head and demand your money, but I strongly doubt he would agree to such a contract. Well, he may offer you a contract that says he'll not kill you as long as you pay …

  I'm really not sure what you're getting at here. I didn't say Law and Order is a service, I quoted someone else. I am maintaining that governmental functions and the ability of government to regulate behavior are indeed established by force. Ultimately it doesn't matter if someone wants to participate or not (I'm thinking immediately of people like tax protesters. Protest all you want, the majority of your citizen "neighbors" will support the ability of government to make you pay taxes or be jailed.)

  --
  This sig for rent.

  Parent

  Starting Score:	1		point
  Karma-Bonus Modifier		+1
  Total Score:		2