Coinbase Users Have to Pay Taxes

February 3, 2018

End of January Internal Revenue System issued specific-style vouchers that have been passed to Coinbase exchange. Representatives of the latter directed them to its users who had conducted over 200 transactions within a year or to those exceeding $20000 transaction limit. Tax liability is applied to all platform users from common traders to business accounts.

Crypto exchange customers have charged Coinbase with not being informed about this while having subject to criticism extra low taxation level.

Coinbase used to lose the case with Internal Revenue System earlier which resulted in the platform obliged to provide personal data on the clients with more than 200 transactions a year or with total transaction sum over $20000.

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