QUOTE OF THE DAY
“You see things; and you say “Why?” But I dream things that never were; and I say “Why not?”
—George Bernard Shaw.
Coinbase IRS Update
Yesterday Coinbase appeared in federal court to continue the fight for customers’ privacy rights.
The IRS wants to obtain copies of essentially all Coinbase U.S. customers’ records for the three-year period 2013–2015. Coinbase isn't handing them over on a silver platter.
TL;DR - The IRS is a fishing expedition looking for someone who might be doing wrong and then going after them.
You can read the full update from Coinbase here.
More Charges Filed Against Trader Who Used Bitcoin to Conceal Fraud Profits
New charges have been filed against Joseph Willner, a Philadelphia-based day trader accused of manipulating a series of online brokerage accounts and using bitcoin to hide the source of his profits.
CoinDesk reports that Wilner was accused this month by the U.S. Securities and Exchange Commission of breaking into victims’ digital brokerage accounts and conducting a series of short sales designed to generate some $2 million in revenue.
More than 50 trading accounts were targeted during the alleged scheme, prosecutors have said.
Willner faces a maximum of 20 years in prison if convicted.
What Else Is Going On?
THINGS I LIKE
The Man (with the hat) Studying Risk-taking And Our Changing Use Of Money
To quote: "Raghu Rau says he’s never had a life plan. His career has taken him from India to France and then from the USA to Cambridge. He’s fascinated by the ways in which financial markets are shaped by human experience — and how technology is opening up new routes."
You can read this article about him here.
My Current Sentiment: Bearish.