Does Coinbase report to IRS?

Regulations and Legal Issues
1

Hey guys,
How does Coinbase’s reporting to the IRS impact individuals’ decisions to use the platform for cryptocurrency transactions?

2

Coinbase reporting to the IRS adds a layer of complexity for crypto users.

On the one hand, it fosters legitimacy and potentially wider adoption.

But on the other hand, it raises privacy concerns for some.

3

Coinbase adheres to regulatory requirements by reporting pertinent tax-related information to the IRS.
This includes submitting Forms 1099-MISC to the IRS for U.S. traders who have earned over $600 in crypto rewards or staking within a calendar year.