As part of a settlement with the IRS, Coinbase is turning over information on 13,000 accounts. Coinbase is the United States' largest cryptocurrency exchange.

I think everyone should have expected this. As a matter of fact they are trying to slowly decide which regulations would be applied to different kind of transactions.one of the US Bills is to make transactions under $600 tax free However this bill still hasn’t pass as far as I’m concerned. Now, given that the price of bitcoin and other cryptocurrencies have increased so quickly in the past few years, even the most stubborn HODLers would be hard pressed not to consider liquidating at least a portion of their crypto portfolio to lock in their gains. This automatically triggers capital gains tax. Buying and selling cryptocurrencies is the same as buying and selling gold or stock. If you donate regularly, you can also consider donating cryptocurrency to your favorite public charity (not to a private foundation), can help you save taxes on the coins you do sell. The charity gets a large donation, and you get a larger deduction, if you donate the coins to a charity instead of selling the coins and donating cash.