IRS Seeks Circle, Poloniex User Data

According to an April 1, 2021, release from the U.S. Department of Justice, a federal court in Manhattan has entered an order authorizing the IRS to serve a John Doe summons to cryptocurrency payments company Circle and its subsidiaries, including the cryptocurrency exchange Poloniex.

A John Doe summons is an investigative tool used by the IRS to obtain information about unidentified U.S. taxpayers. In this case, it is attempting to compel Circle to provide information about users who conducted cryptocurrency transactions totaling at least $20,000 between 2016 and 2020.

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