Coinbase has responded to the US government's civil petition filing on Monday in federal court seeking all US customers' records over a three-year period by stating "we are extremely concerned with the indiscriminate breadth" of the request. The government claims that taxpayers may use virtual currency to evade taxes which was the reasoning behind the John Doe summons. In response to the summons, Coinbase, one of the largest Bitcoin exchanges and wallet services, said it would comply but added that its customers should not expect any immediate relief.
Coinbase has responded to the US government's civil petition filing on Monday in federal court seeking all US customers' records over a three-year period by stating "we are extremely concerned with the indiscriminate breadth" of the request. The government claims that taxpayers may use virtual currency to evade taxes which was the reasoning behind the John Doe summons. To protect customers' privacy rights, the bitcoin exchange says it will oppose the petition in court.