Coinbase asked the U.S. Supreme Court to hear a case that could limit the IRS’s authority to monitor crypto transactions across exchanges and digital platforms, according to Benzinga. The case challenges the IRS’s use of a summons to collect Coinbase user data without suspicion. Coinbase argued that the "third-party doctrine" is outdated in the digital age, as people routinely share data with companies and should not forfeit their privacy rights. The company warned that warrantless IRS data collection enables sweeping surveillance of users’ financial activity and urged the Court to affirm Fourth Amendment protections for digital financial records.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Coinbase asked the U.S. Supreme Court to hear a case that could limit the IRS authority to
00:06monitor crypto transactions across exchanges and digital platforms, according to Benzinga.
00:10The case challenges the IRS use of a summons to collect Coinbase user data without suspicion.
00:15Coinbase argues that the third-party doctrine is outdated in the digital age,
00:20as people routinely share data with companies and should not forfeit their privacy rights.
00:24The company warns that warrantless IRS data collection enables sweeping surveillance of
00:29users' financial activity and urged the court to affirm Fourth Amendment protections for
00:33digital financial records.
00:36Okay, that was good.
00:44For all things money, visit Benzinga.com slash GSTV.