Coinbase ordered to report 14,355 users to the IRS

[simplejg]

I think the US govt is also lending legitimacy to bitcoin with this as well, since they're basically saying that bitcoin income is taxable.

[RudeeTam]

And so it begins. It's inevitable that the government will get their hands on Bitcoin once it's popularity has reached a threshold that permits them to "look into" it. Bitcoin price is so high nowadays that just moving 2 BTC already warrants an IRS audit in Coinbase. Well, death and taxes i guess.

[The_Dark_Knight]

Looks like it only applies if you bought or sold more than $20k in a single year.  But this ruling wouldn’t bother me anyway.  Gotta pay those taxes ...

Yes but with the price of bitcoin increasing things are getting harder, in the past with  a bitcoin price of 200 dollars you could by 100BTC with 20k, but now those same 20k only buy more than 1 BTC so the amount of bitcoin you can get with your money before being tagged for inspection is getting lower by the day, it is better to stay away from exchanges from now on.