On May 17, 2017, less than 2 months ago, powerful members of the U.S. Congress sent a letter to John Koskinen, the Commissioner of the Internal Revenue Service, requesting information about the IRS’s digital currency strategy as well as recent events surrounding the IRS’s summons to Coinbase, a digital asset exchange company.
The three Congressional members drafting this letter were:
1. Orin G. Hatch, Chairman of the Senate Committee on Finance; 2. Kevin Brady, Chairman of the House Committee on Ways and Means; and 3. Vern Buchanan, Chairman of the House Committee on Ways and Means Oversight Subcommittee
HISTORICAL BACKGROUND NOTED BY CONGRESSIONAL CHAIRMANS:
In March 2014, the IRS began working to clarify tax issues related t