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Crypto Exchange May Be Served IRS Summons for User Records (1)

April 1, 2021, 10:24 PM; Updated: April 2, 2021, 4:22 AM

Cryptocurrency asset exchange Poloniex may be served with an IRS summons for records connected to an unnamed set of its users, a federal court ruled.

The U.S. District Court for the District of Massachusetts in a Thursday order granted a government petition for leave to serve a John Doe summons on Circle Internet Financial Inc., a payments technology company, as well as entities affiliated with it, which include Poloniex LLC. The records sought to pertain account holders with at least $20,000-worth of transactions in cryptocurrency in a single year between 2016 and 2020.

The records...

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