Does Coinbase Wallet report to IRS?

As a cryptocurrency enthusiast, I'm wondering if Coinbase Wallet, a popular crypto wallet, is required to report transactions to the IRS for tax purposes. Given the increasing scrutiny on cryptocurrency transactions by tax authorities, it's crucial to understand if platforms like Coinbase Wallet are obligated to share user data with the IRS. This could potentially have a significant impact on how users manage their crypto assets and the tax implications of their transactions. Clarifying this point would help ensure compliance and mitigate any potential risks associated with crypto investing.