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Crypto Company Loses Bid to Quash Subpoena on Privacy Grounds

May 5, 2021, 4:04 PM

A man and his cryptocurrency company failed to convince an Idaho federal judge to quash a financial subpoena after arguing it would reveal confidential information.

The Right to Financial Privacy Act of 1978 doesn’t shield Shawn Cutting’s bank records from a Securities and Exchange Commission subpoena, Judge B. Lynn Winmill wrote in an order filed Tuesday in the U.S. District Court for the District of Idaho.

The SEC issued the subpoena in December in connection with a law enforcement inquiry into whether Cutting’s company, Crypto Traders Management LLC, violated securities laws.

Cutting and Crypto Traders filed a motion against the ...

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