SamsungShineBrightnessRadianceGlitter
Mon Sep 09 2024
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7 answers
1761
Is Coinbase monitored by IRS?
Could you clarify for me, are transactions made through Coinbase, a popular cryptocurrency exchange, subject to monitoring by the Internal Revenue Service (IRS) of the United States? I'm curious to understand if the IRS keeps tabs on cryptocurrency transactions processed by this platform, especially given the increasing popularity and value of digital currencies like Bitcoin and Ethereum. Is there a legal obligation for Coinbase to report user transactions to the IRS, or is there a different process in place for ensuring tax compliance on cryptocurrency gains and losses?
Chloe_emma_researcher
Sun Sep 01 2024
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6 answers
1117
Are Bitcoin ATMs monitored?
Are Bitcoin ATMs monitored? It's a valid question given the increasing popularity of digital currencies and the potential for misuse. As with traditional financial institutions, it's important to understand the level of oversight and regulation surrounding these machines. Do they undergo the same level of scrutiny as banks and other financial service providers? Are there measures in place to prevent money laundering, fraud, and other illicit activities? Understanding the answer to this question can help investors and users make informed decisions about whether to use Bitcoin ATMs.
