To that end, the U.S. agency took court action to compel M.Y. Safra Bank to hand over transaction data from SFOX, a cryptocurrency prime broker partnered with the bank. The action against the relatively small bank could be an indication more scrutiny of smaller operations is on the IRS docket.
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IRS M.Y. Safra Bank Action May Signal Crypto Reporting Crackdown: Expert
The IRS continues to crack down on taxpayers who did not report their cryptocurrency transactions. So reports CNBC.
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