IRS issues subpoena to crypto trader SFOX for potential tax evaders

[US IRS issued subpoena to crypto trader SFOX to find potential tax evaders] Golden Finance reported that the U.S. court ruled on Monday that the IRS can issue a "John Doe" subpoena to SFOX, a major cryptocurrency trader, allowing the tax agency to search-zce for potential tax evaders. potential tax evaders of the company's transactional services. The John Doe subpoena means the IRS does not know the specific identity of the potential tax evader. SFOX itself has not been accused of violating any laws. The IRS, which collects capital gains taxes on every transaction, has previously issued such subpoenas to companies like Kraken and Circle, often when it wants to confirm that the recipient's customers are reporting their taxes correctly.

The subpoena will ask for information about any "U.S. taxpayer who conducted a cryptocurrency transaction equivalent to at least $20,000 with or through SFOX between 2016 and 2021," and SFOX will be required to share information about those users and any information on their transactions. Record.

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