Odaily Planet Daily News The US government has urged the Supreme Court not to accept Coinbase users' lawsuit against the IRS for obtaining their crypto trading records. Relevant documents show that US Deputy Attorney General D. John Sauer argued that Coinbase user James Harper did not have the right granted by the Fourth Amendment to protect his financial records held by the exchange.
It is reported that in 2016, the IRS launched an investigation into the widespread underreporting of taxes on cryptocurrency gains. At that time, the IRS found that millions of Coinbase users had huge tax gaps when trading Bitcoin, so it forced Coinbase to hand over the records of large customers. James Harper subsequently filed a lawsuit, claiming that the IRS's actions amounted to an unconstitutional search of his personal records. (Cointelegraph)