The IRS probes (another) crypto broker for tax evasion

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created by Team Scrollingdowns

A new crypto controversy surfaces every day.

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The Southern District of New York has granted the IRS permission

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to examine the data of (should be) U.S. taxpayers who are SFOX's clients

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and are customers of the cryptocurrency broker.

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The latest IRS summons is primarily directed at M.Y. Safra Bank, a company with New York headquarters

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that provides cash-deposit bank accounts to SFOX users.

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Since 2015, more than $12 billion in cryptocurrency transactions have been carried out 

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by 175,000 SFOX customers.

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And according to the IRS, many of those investors have been avoiding paying their taxes.

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