Coinbase Global, Inc. COIN, the largest U.S. crypto exchange, asked the U.S. Supreme Court on Wednesday to hear a case that could restrict the IRS’s ability to monitor crypto transactions on exchanges and other platforms.
The Details: The case, Harper v. O’Donnell, centers on the IRS’s use of a “John Doe” summons to demand transaction data from Coinbase about thousands of users, even if they weren’t suspected of wrongdoing.Coinbase, along with several states and privacy groups, filed an amicus brief arguing that the government’s sweeping data requests threaten Americans’ digital privacy.
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The company challenged the longstanding “third-party doctrine,” which says people lose privacy rights over information shared with companies like banks or crypto exchanges. Coinbase argued that the doctrine is outdated for the digital age, where sharing data with third parties is routine…
