The U.S. Internal Revenue Service (IRS) has been granted the power to issue a so-called "John Doe" summons to M.Y. Safra Bank, allowing the tax agency to obtain data on customers of the bank's partner SFOX, a crypto prime broker. The news is the result of a court ruling on Thursday. The court order, which U.S. district judge Paul G. Gardephe approved, authorizes the IRS to serve the summons against M.Y. Safra Bank, asking for information about SFOX customers that may not have reported their crypto transactions on tax returns. M.Y. Safra Bank partnered with SFOX in 2019 and offers SFOX users access to ... (full story)