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Title: Coinbase vs Bitstamp Post by: axel2078 on October 27, 2014, 10:05:32 PM Through these forums, I recently learned that Coinbase turns over its customer information to the IRS for tax purposes. That's not cool. As someone living in the U.S., is there an advantage of using Bitstamp as your exchange over Coinbase? The one advantage I can think of is that they aren't obligated to comply with U.S. laws and thus report any of your account information to the IRS. Is there more to it than this though? Please fill me in. Thanks.
Title: Re: Coinbase vs Bitstamp Post by: axel2078 on October 29, 2014, 02:17:47 PM Anyone??
Title: Re: Coinbase vs Bitstamp Post by: bitnanigans on October 29, 2014, 02:31:44 PM Bitstamp is outside US jurisdiction so they don't have to comply with US authorities. But you can always verify by contacting Bitstamp to find out what their policy is.
Title: Re: Coinbase vs Bitstamp Post by: scarsbergholden on October 30, 2014, 06:18:28 AM If bitstamp is going to be using the US banking system then they will need to report similar information to the IRS.
There really is no way around having this information reported to the IRS unless you want to use a service like LBC, however the prices on LBC are sufficiently higher then the market prices so you would be paying a defacto tax that is higher then what you would pay the government in the form of worse prices |