RE: Coinbase, Bitcoin, IRS?

I think that my thoughts here may not go over well, but please consider:

In order for crypto to really become mainstream, it will need to be regulated
Obviously, this can cause a burden, but I think the good outweighs the bad. Once it is regulated the uptake will increase and all holders will make out well
The current law, which treats cryptos as property, makes reporting for tax purposes very painful
If it was treated like other currency's, reporting of gains/losses would be much less cumbersome (important note: many think that if cryptos are classified as a currency, they will no longer pay gains on trading BTC. that is not true, but reporting is better than it is currently)
Additionally, clear regulation would help a company like Coinbase understand how they can best document our transactions with them so that we can easily file our taxes

With all that being said -- no I do not think the IRS should be able to subpoena everyones records from Coinbase. However, it's important to look at similar examples... ETrade reports all of our gains and losses to the IRS. All other brokerages do the same. Why is it so scary to think it may be a good thing if Coinbase/Other crypto exchanges did the same?