2016-12-01zerohedge.com

Despite the order, Coinbase has vowed to continue the fight: "We look forward to opposing the DOJ's request in court after Coinbase is served with a subpoena," a spokesman for the San Francisco-based company said in an email to Reuters.

Coinbase remains concerned with its U.S. customers' privacy rights in the face of the government's request, he added, although he is likely far less concerned than any people who used Coinbase from 2013 to 2015, and who may soon be getting a visit from the taxman, even if they have done nothing illegal. As for the myth that trading bitcoin by ordinary Americans provides some additional layer of privacy, that is about to be thoroughly debunked.

This order is almost unbelievably broad -- it's comparable to an order demanding bank client identities and transactions because the transactions might entail unreported taxable gains (of course, there are already other forms of regulatory surveillance on banks). The until-recently-ongoing NSA warrantless wiretapping program revealed by Snowden is the closest parallel we can think of.



Comments: Be the first to add a comment

add a comment | go to forum thread