IRS targets Coinbase users in an attempt to thwart tax fraud

The Internal Revenue Service is heading to court today with the goal of forcing Coinbase, a U.S. cryptocurrency exchange, to hand over data on a host of its users. Why? According to the government agency, all is not right in the land of blockchains — and it's past time the company play ball. 

The beef spans back to 2016, reports Bloomberg, when the IRS requested data on the service's users claiming that an unspecified number failed to properly report their holdings for tax purposesCoinbase, for its part, called the summons overly broad and refused to comply.