The Central District of California federal court entered an order Monday to authorize the United States Internal Revenue Service (IRS) to serve a John Doe summons on SFOX, a Los Angeles-based cryptocurrency prime dealer. The IRS filed suit to receive the order, which directs SFOX to reveal the identities of customers who are U.S. taxpayers and documents relating to their cryptocurrency transactions equivalent to at least $20,000 carried out between 2016 and 2021. The IRS filed suit in the Southern District of New York to receive a John Doe summons on SFOX as well. SFOX’s partner bank, M.Y. Safra, is …

Kraken has been ordered to provide information on its users who conducted the equivalent of $20,000 in crypto transactions in any one year, between 2016 and 2020, to the United States Internal Revenue Service. A federal court in northern California authorized the IRS to serve a “John Doe summons” on Kraken Wednesday. The exchange is not alleged to have done anything wrong. The IRS is after the records of an “ascertainable group or class of persons” who may have failed to comply with tax reporting and internal revenue laws. In addition, the IRS will check if Kraken has been compliant …