The Internal Revenue Service (IRS) has rubbished claims made by a cryptocurrency exchange Coinbase user of engaging in a surveillance conspiracy through its various regulations. The federal agency claimed in a 15 November filing in a California federal court that their actions were completely legitimate and William Zietzke, the crypto exchange user in question, had no rights that were violated.
Zietzke was requested by the IRS to hand over his financial records from 2016 and instead of furnishing them, he sued the agency in the federal court in an attempt to quash the request. According to him, the request was too broad and was not restricted to the 2016 records only. He also claimed that the request compromised his personal and financial security in the event that it got leaked by the agency.
IRS however, rubbished these claims and argued that the Washington resident was unable to prove why the summons shouldn’t be enforced. It also rejected claims that the agency was developing a database to track all cryptocurrency users. The agency also reiterated its demand for access to all records above and beyond the 2016 ones because they were needed to calculate his total tax liability.
It remains to be seen what the court decides regarding the case.
Image Courtesy: pixabay.com
The post IRS Rejects Coinbase User’s Charge of Surveillance Conspiracy appeared first on BitcoinNews.com.