US Supreme Court will not review IRS case involving Coinbase user data

Supreme Court Decision: The U.S. Supreme Court declined to hear a case from Coinbase user James Harper, who claimed the IRS violated his Fourth Amendment rights by obtaining his financial data through a "John Doe" summons, leaving lower court rulings intact and impacting digital privacy for crypto users.

Impact on Crypto Users: Following the Supreme Court's decision, there has been a notable increase in IRS warning letters to crypto investors, indicating heightened scrutiny of unreported transactions, although these letters do not necessarily imply wrongdoing.