A Coinbase user’s petition to quash an IRS summons for financial records held by the cryptocurrency exchange was properly dismissed because the user lacked a protectable privacy interest over the documents, the First Circuit ruled Tuesday.
James Harper, who used Coinbase to buy and sell cryptocurrency, sought the US Court of Appeals for the First Circuit’s review after a federal court in New Hampshire rejected his petition quash a John Doe summons. The IRS said it believed virtual currency transactions hadn’t been properly reported, and it sought a number of users’ account activity, balances, and the names of counterparties to ...
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