US Court Authorizes IRS to Summon Cryptocurrency User Records From Circle and...
The Internal Revenue Service (IRS) has obtained authorization from a federal court to seek information on cryptocurrency users from Circle and Poloniex exchange platforms. The tax authority wants records identifying crypto users who conducted $20,000 or more in crypto transactions during the years 2016 to 2020 as well as other documents relating to their crypto transactions. IRS Got Court Approval to Summon Data on Crypto Users From Circle and Poloniex The U.S. Department of Justice (DOJ) announced Thursday that a federal court has authorized the IRS “to serve a John Doe....
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The Internal Revenue Service (IRS) has obtained court authorization to serve a John Doe summons on cryptocurrency exchange Kraken. The tax agency is seeking data of users with $20,000 or more in cryptocurrency transactions during the years 2016 to 2020. IRS Wants User Information From Crypto Exchanges The U.S. Department of Justice (DOJ) announced Wednesday that a federal court in the Northern District of California has authorized the IRS “to serve a John Doe summons on Payward Ventures Inc., and subsidiaries d/b/a Kraken.” The IRS is “seeking information about U.S.....
The Internal Revenue Service (IRS) has obtained a “court order authorizing summons for records relating to U.S. taxpayers who failed to report and pay taxes on cryptocurrency transactions.” The IRS commissioner commented: “The government’s ability to obtain third-party information on those failing to report their gains from digital assets remains a critical tool in catching tax cheats.”
IRS Seeks Crypto Investors’ Records From Bank
The U.S. Department of Justice (DOJ) announced Thursday that the Internal Revenue Service (IRS) has....
In the SEC v. Ripple case, the court has denied the request by the U.S. Securities and Exchange Commission (SEC) for personal financial records of Ripple’s executives that are not connected to XRP. The court says that it “is not convinced” that personal banking records would show the violations as claimed by the SEC. Another Win for XRP in SEC v Ripple Case In the lawsuit brought by the U.S. SEC against Ripple Labs, CEO Brad Garlinghouse, and co-founder Christian Larsen over the sale of XRP tokens, the court has denied the SEC’s request to obtain personal financial....
In a precedent-setting victory for the United States tax authorities, a California federal court has ruled in favor of the IRS serving Coinbase Inc. with a “John Doe” summons. The IRS requires the approval of a federal court in order to issue said summons, which covers virtually all Coinbase users who were clients from 2013 to 2015. The extent of this back-door surveillance is stunning in its depth and scope. Let’s review what the official “John Doe” summons requires of Coinbase: “Complete user profile, history of changes to user profile from account inception, complete user preferences,....
A "John Doe" summon is an order that does not specifically identify the person but rather identifies a person or ascertainable group or class by their activities. A Coinbase customer had filed a motion earlier this month seeking to block the Internal Revenue Service (IRS) from issuing a “John Doe” summons to the Bitcoin exchange. The IRS has now responded to the motion by asking the court to dismiss it and to allow the tax agency to proceed with its summons. The IRS response was filed on December 27, 2016. A “John Doe” summon is an order that does not specifically identify the....