IRS lessens demands of customer data from Coinbase

Apr 2017
“Further, the breadth of the summons, which seeks substantial personal information that is not at all relevant to tax compliance issues, and which could expose these clients to significant risk of having their identity and funds stolen by hackers who have succeeded previously in hacking the federal government, including the IRS, numerous times, makes it easy to conclude that the Government is engaging in abuse of process.”

One of the least secure websites ever created was the Obamacare website. Yet government wanted millions of Americans to sign up for over priced healthcare insurance most of them didn't want or need (and then pay a fine if they couldn't afford the over priced health insurance), and then provide most of their most private data. And now that same government wants Coinbase users to turn over the same type of information, so it can be easily hacked as well? No thanks. The government has proven itself time and time again to be utterly incompetent when it comes to securing private data.