Does IRS track Coinbase?

Does the Internal Revenue Service (IRS) keep an eye on Coinbase, the popular cryptocurrency exchange platform? The question is pertinent given the increasing popularity of cryptocurrencies and the need for taxpayers to report their transactions accurately. Many people are curious about whether their crypto activities are being monitored by the tax authorities. Does the IRS actively track Coinbase transactions, or is it a matter of taxpayers voluntarily disclosing their earnings from crypto trading and investments? Understanding the IRS's stance on cryptocurrency taxation is crucial for those looking to navigate the complex world of digital assets.