It is alleged that the US Internal Revenue Service is considering requiring technology giants to announce user encryption activities.

It is alleged that the US Internal Revenue Service is considering requiring technology giants to announce user encryption activities.

Translator: Play the coin family ElaineHu

According to a report provided by a Twitter user on July 9, the US Internal Revenue Service (IRS) is considering asking technology giants to report users' encryption activities.

Based on shared documents, the IRS hopes to use the Grand Jury to summon companies such as Apple, Google, and Microsoft to check the taxpayer's history of downloading encryption-related applications.

Laura Walter is a certified public accountant and tax specialist in the field of encryption. She posted the report on Twitter. The report is said to have been prepared for agents of the US Internal Revenue Service (IRS) criminal investigation department.

Walter cited this document and concluded that the US tax authorities are conducting a thorough investigation into criminal tax evasion cases involving cryptocurrency transactions. Therefore, the expert pointed out that the US Internal Revenue Service is considering interviews, open source and social media search, and electronic monitoring and other related measures.

Surprisingly, this 181-page document states:

"The jury tried to issue subpoenas to Apple, Google and Microsoft to get a complete application download history for users of these tech giants. The functionality of each application should be studied to determine if the application can be transferred or otherwise Allow bitcoin transactions".

As Walter emphasized, the report envisages that IRS agents should ensure that taxpayers are not informed of the information they receive about using cryptocurrencies to avoid adversely affecting the investigation.

Cointelegraph pointed out that the US Internal Revenue Service has not confirmed the authenticity of the source of this report.

Based on the documents provided, the IRS would like to issue a subpoena to check the data on the bank and the Paypal account to determine if it is related to the encrypted transaction. In addition, tax authorities are considering reviewing social media giants such as Facebook and Twitter to discover and record publicly available cryptographic currency addresses.

The password tax collector wrote in the summary post:

“There is a lot of other information about encryption, such as tracking transactions through blockchains, blockchain restrictions, etc., but what you need to know is that the IRS is working hard to identify criminal tax cases involving cryptocurrencies.”

As previously reported, the US Internal Revenue Service currently considers cryptocurrencies to be property. At the end of 2018, an advisory committee of the US Internal Revenue Service (IRS) stated that it intended to provide additional guidelines for taxation of encrypted transactions.

Recently, Cointelegraph reported that Singapore plans to waive the Goods and Services Tax (GST) for cryptocurrencies as a trading medium.

Currency search: Bitcoin search engine

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


Coinbase International Exchange Introduces Leverage Cap for Perpetual Futures Trading

Please note, Coinbase International is currently unavailable for U.S. clients. We apologize for any inconveniences th...


How to empower infrastructure and serve billions of users through account abstraction?

Article Title: How to Empower Infrastructure to Service a Billion-Strong User Base with Account Abstraction Article A...


How to effectively hedge USDT risk on the chain when unexpected events occur?

USDT's share in Curve 3pool has exceeded 70%, causing concern for some. How to minimize risks in case of emergencies?...


Bitcoin's volatile price swings cause $360 million in losses for traders

A record-breaking $360 million worth of long and short positions were liquidated on March 12 as Bitcoin reached a new...


Don't Get Rekt! dYdX Ups Margin Requirements and Puts the Kibosh on Highly Profitable Trades

DYdX takes action to address trading risk after $9 million insurance fund loss in targeted attack.


Coinbase Shares Surge Despite Platform Issues: A Roller Coaster Ride for Investors 🎢🚀

Coinbase (COIN) reached a new high for the past two years at $229.15 and continued to soar over $237 after regular tr...