“The US Supreme Court has refused to review the Tax Service Transmission Case (IRS) of more than 14,000 Coinbase users. In this way, the court actually supported the right of the regulator to receive information about cryptocurity, Bloomberg reports. It is an IRS investigation opened in 2016. The Office turned to Coinbase demanding to transfer clients’ personal and financial data. In 2017 […]”, – WRITE: Businessua.com.ua
The US Supreme Court has refused to review the Tax Service Transmission Case (IRS) of more than 14,000 Coinbase users. In this way, the court actually supported The right of the regulator to receive information about cryptocurity, Americans, Bloomberg reports.
It is an IRS investigation opened in 2016. The Office turned to Coinbase demanding to transfer clients’ personal and financial data. In 2017, after the litigation, the exchange agreed.
One of the users of the platform – James Harper – appealed, emphasizing that the disclosure of data violates the fourth amendment to the US Constitution, which protects against unjustified searches and withdrawals. Coinbase supported Harper in his claim, noting that she resisted the requirements until it created legal risks for the company.
The plaintiff and supporters of privacy hoped that the case would force the court to review the decision of 1976, according to which financial data stored in third parties (for example, in banks or fintech services) did not fall under constitutional protection. The Supreme Court is not ready to change this doctrine, although in some decisions he has already made exceptions, in particular
Recall that in May Coinbase reported that 69 461 users were compromised in December 2024 as a result of the data incident in December 2024.
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