The US Treasury Department’s Tax Administration Inspector General plans to investigate whether the IRS effectively identifies unreported revenue in encrypted transactions.

According to foreign media, the agency responsible for overseeing the day-to-day work of the IRS plans to investigate whether the IRS effectively identifies undeclared revenue from cryptocurrency transactions – a tax official said it is a top priority in the law enforcement field. The US Treasury Department’s Tax Administration Inspector General said in an annual audit plan for the fiscal year 2020, released on October 7, that the survey will examine how the IRS uses its information, including data obtained by successfully summoning Coinbase.