Coinbase sent tax receipts to its customers

According to Investopedia, the large American exchange Coinbase sent out tax receipts for transactions. Namely, tax forms 1099-K, which relate to transactions carried out on the exchange in 2017.

The list of taxpayers includes those persons who conducted transactions worth more than $20,000, or made more than 200 transactions. The mailing was carried out from January 1 to January 31.

Recall that Donald Trump signed a law that imposes taxes on all cryptocurrency transactions. The 2017 tax overhaul was the biggest change to the US tax code in 30 years.

The IRS has long been closely monitoring Coinbase. Moreover, the exchange appears in legal proceedings. The court ordered the platform to provide the tax authorities with personal data of account holders who carried out transactions with digital currency from 2013 to 2015.

Recall that Brian Armstrong and Fred Ehrsam created Coinbase in 2012. As of August 2017, the exchange was the first startup in the cryptocurrency world with a capitalization valuation above $1 billion. Thus, in 2016, the number of Coinbase users did not even reach 5 million, and in December it exceeded 15 million. After they announced their intention to launch futures trading in November, the number of users began to grow by more than 100 thousand per day.

In December last year, the exchange application was recognized as the most downloaded for iOS in the States. At the moment, the company's management is considering the transition to an IPO.