The department of justice has passed a notice allowing a Northern District Court in California to obtain the records of circle customers. The judge in the district of Massachusetts has acted on the order and has issued a John De summons on all circle and Poloniex customers.
They are seeking information about US taxpayers who have engaged in the crypto transaction of 20,000 dollars during the years 2016 and 2020.
According to the sources, the department of justice issued this order to ensure that cryptocurrency owners are obeying tax laws and are paying their taxes timely and fairly.
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IRS commissioner Chuck Rettig in a press statement has said that tools like John De Summons send a message to US taxpayers that IRS is working to ensure that they are fully obedient to the use of virtual currency.
The main reason behind this step is to ensure that these taxpayers are not using cryptocurrency as a medium to hide taxable income from the IRS.
They have previously used John De Summons to go after coin base and they fought for almost a year before submitting the records of nearly 14000 customers.
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