Share this article
IRS Effort to Access Coinbase Records Could Take Months
Digital currency exchange Coinbase says it’s planning to fight a government effort to acquire information about its users.
By Stan Higgins
Updated Sep 11, 2021, 12:37 p.m. Published Nov 22, 2016, 8:02 p.m.
Make us preferred on Google
An effort by the US Internal Revenue Service to obtain user records from digital currency exchange Coinbase may take months to resolve.
The IRS filed a petition last week in federal court, seeking court approval to subpoena data on customers who bought or sold bitcoin from Coinbase during the period between December 2013 and December 2015.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
indicate that no significant action is expected until mid-February. An initial case management conference has been scheduled for 16th February in San Francisco, with 26th January being the last day the two sides could meet to hammer out a possible early settlement. A case docket can be found here.
When reached for comment, Coinbase said that it did not yet have a firm date on which it plans to formally contest the petition in court. The startup said last week that it would fight the petition, stating at the time:
“Our customers’ privacy rights are important to us and our legal team is in the process of examining the government's petition. In its current form, we will oppose the government’s petition in court. We will continue to keep our customers informed on developments in this matter.”
The controversial move by the IRS came days after it published a report from its inspector general which cast a critical eye on the agency’s digital currency strategy. Short of creating a “comprehensive strategy” for the tech, the IG report argued that the IRS risked catching taxpayer violations.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase.
Image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
What to know:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
Top Stories
