Cryptocurrency users beware: the IRS is watching! | Crypto

Cryptocurrency users beware: the IRS is watching!

-The IRS will issue a summons for customer records from M.Y. Safra Bank, in order to obtain information on cryptocurrency transactions from SFOX, a digital currency prime broker.

-This is not the first IRS summons for crypto records, but it is unusual because the broker seems to be relatively small.

-The IRS has indicated that this is a high priority for them, and they are likely to try to match the information they collect with investors’ tax returns.

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