As Elon Musk's X Urges Supreme Court To Block IRS Access To Coinbase User Data (The Block) it raises a huge two tier problem. As things stand, all banks have to report all financial data on their clients pretty much anywhere on earth. That has gummed up banking as e.g. US banks close to foreigners because they don’t want the cost/hassle/risk of foreign reporting and even new banks that were EMIs such as Revolut have made pigs’ ears of these issues… So, I am not averse to crypto accounts being kept away from the IRS BUT we also need a similar rollback for bank accounts and other financial activities (this was always vast over reach but of course encouraged by the perma-spending idiots like Biden, Obama and far too many folks on the allegedly free market side of political aisles too).
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