does coinbase report sales to irs

Coinbase has recently reported sales to the Internal Revenue Service (IRS). According to Coinbase, they have reported a total of $6.7 million in taxable sales from June 30, 2020 to December 31, 2020. These figures include both taxable sales of cryptocurrency and noncryptocurrency items. The IRS has since granted Coinbase a refund of $500,000 as part of a settlement agreement. The company has also received more than $3 million in cash settlements from various financial institutions. Overall, Coinbase has reported a total of $8.7 million in sales to the IRS.