Our customers may be aware that the U.S. government filed a civil petition yesterday in federal court seeking disclosure of all Coinbase U.S. customers’ records over a three year period. The government has not alleged any wrongdoing on the part of Coinbase and its petition is predicated on sweeping statements that taxpayers may use virtual currency to evade taxes. Although Coinbase’s general practice is to cooperate with properly targeted law enforcement inquiries, we are extremely concerned with the indiscriminate breadth of the government’s request. Our customers’ privacy rights are important to us and our legal team is in the process of examining the government’s petition. In its current form, we will oppose the government’s petition in court. We will continue to keep our customers informed on developments in this matter.
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.