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U.S. IRS Can Issue Summons to Bank Serving Crypto Broker SFOX Customers in Search of Tax Evaders

“The government’s ability to obtain third-party information on those failing to report their gains from digital assets remains a critical tool in catching tax cheats," IRS Commissioner Charles P. Rettig said in a U.S. Department of Justice (DOJ) press release. "The court’s granting of the John Doe summons reinforces our

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IRS takes out John Doe summons on crypto prime dealer SFOX to find tax cheat customers

The Central District of California federal court entered an order Monday to authorize the United States Internal Revenue Service (IRS) to serve a John Doe summons on SFOX, a Los Angeles-based cryptocurrency prime dealer. The IRS filed suit to receive the order, which directs SFOX to reveal the identities of

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Crypto dealer SFOX gets trust charter approval from Wyoming regulators

The State of Wyoming has approved California-based crypto broker SFOX for a trust charter, allowing the firm to provide custodial and other crypto-related services to institutional clients.In a Tuesday announcement, SFOX said the Wyoming trust charter will allow the firm to operate in the state as the SAFE Trust Company,

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B2C2 Teams With SFOX Exchange to Bring Transparency to OTC Trades

B2C2, a London-based over-the-counter (OTC) market maker, is sharing its data and allowing transactions on the Los Angeles-based exchange aggregator SFOX. The partnership began at 10 a.m. Eastern time (15:00 UTC) Wednesday. It offers traders more access to price discovery in a thinly traded cryptocurrency market that lacks transparency. It also

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Crypto Market Outlook Downgraded to ‘Uncertain’ in New SFOX Volatility Report

The current outlook for the cryptocurrency market has been downgraded from mildly bullish to uncertain, SFOX’s latest volatility report concluded on June 6.While the report acknowledged that crypto prices recovered substantially last month, the authors described overall sentiment is at a tipping point — and warned it was unclear how much of

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Crypto Prime Dealer SFOX Partners With New York Bank to Offer New FDIC Protection

Institutional cryptocurrency prime dealer SFOX has partnered with a New York bank to offer state-insured bank accounts for traders, the company confirmed in a blog post on May 14.SFOX, which says the move is an industry first, stated the deal with M.Y. Safra Bank primarily targeted institutional investors and

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SFOX Market Index Reads Current Crypto Market as ‘Mildly Bullish’

Institutional cryptocurrency prime dealer SFOX’s index is now reading the digital currency market as “mildly bullish,” according to a report published on April 4.In the course of preparing the report, the company collected data about price, volume and volatility from eight major exchanges in March in order to examine

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