IRS Seeks Names of Circle Customers Transacting Over $20K in Crypto

[Dreamer]

The Internal Revenue Service (IRS) can move forward with its efforts to unmask high-value customers at Circle Internet Financial, a federal judge ruled Thursday.

The judge authorized a request from the IRS to issue a “John Doe Summons” on all Circle and Poloniex customers who transacted $20,000 or more in crypto between 2016 and 2020. Such summons are a tactic the IRS uses to demand information on people it can not identify by name. (Circle spun out Poloniex in 2019 after buying the exchange for $400 million in 2018.)

Read more: https://affiliatious.com/irs-seeks-names-of-circle-customers-transacting-over-20k-in-crypto/