> I'm actually surprised the government showed their hand so soon. Yes and in a very incompetent way. Coinbase will lose all credibility now if they don't chal

> I'm actually surprised the government showed their hand so soon. Yes and in a very incompetent way. Coinbase will lose all credibility now if they don't challenge this in court. Coinbase is likely to win in the court increasing costs for IRS to do the same thing in future. Secondly, despite the immense coercive power of US government this is a fight they are likely to lose badly in my opinion. The rate of innovation in currencies have reached well beyond the rate at which government can make sense and act on these things.