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Public Relations and Social Media Manager, Dechert LLP

Peggy Heffner

Public Relations and Social Media Manager

Dechert is a global specialist law firm

Dechert LLP

Dechert is a global specialist law firm.
Focused on sectors with the greatest complexities, legal intricacies and highest regulatory demands, we excel in delivering practical commercial judgment and deep legal expertise for high-stakes matters.

Our work is widely recognized. We have 20 standout practices noted by Chambers Global, including global-wide rankings for arbitration, corporate investigations, anti-corruption, investment funds and life sciences. Named Antitrust Team of the Year, Chambers USA commends our “accomplished group” as “routinely sought after to handle some of the most significant litigation and transactions in the antitrust world.” 

In an increasingly challenging environment, clients look to us to serve them in ways that are faster, sharper and leaner without compromising excellence. We developed a first-of-its kind legal project management department, which uses technology, people and processes to drive efficiency and deliver value for our clients.

We are innovators. Dechert ranked #7 in the Financial Times’ Top North American Innovative Law Firms. Financial Times also recognizes us among the Top European Innovative Law Firms and highly commends World Compass, our marketing compliance service, which offers investment firms advice in more than 100 jurisdictions.

Thematic (Sector/Industry)

Colombia Diversified financials / Thematic (Sector/Industry)

<p>The U.S. District Court for the Northern District of California, on November 28, 2017, ordered the international digital currency broker, Coinbase, Inc., to produce to the Internal Revenue Service (IRS) the records of Coinbase’s account holders, in connection with the IRS’s investigation of allegedly underreported virtual currency gains.<sup>1</sup> As discussed below, after Coinbase refused to comply with the IRS’s initial summons to obtain information, the IRS issued a second summons with a significant reduction in the type and amount of information requested; pursuant to the order, the court even further narrowed the types of information to which the IRS would be entitled. The court’s decision raises the issue of balancing the privacy interests of virtual currency account holders with the IRS’s legitimate interest in investigating potential tax evasion and brings virtual currencies further into the regulatory scope of U.S. government agencies.</p>

The U.S. District Court for the Northern District of California, on November 28, 2017, ordered the international digital currency broker, Coinbase, Inc., to produce to the Internal Revenue Service (IRS) the records of Coinbase’s account holders, in connection with the IRS’s investigation of allegedly underreported virtual currency gains.1 As discussed below, after Coinbase refused to comply with the IRS’s initial summons to obtain information, the IRS issued a second summons with a significant reduction in the type and amount of information requested; pursuant to the order, the court even further narrowed the types of information to which the IRS would be entitled. The court’s decision raises the issue of balancing the privacy interests of virtual currency account holders with the IRS’s legitimate interest in investigating potential tax evasion and brings virtual currencies further into the regulatory scope of U.S. government agencies.

U.S. V. Coinbase: Virtual Currency Holders Not Outside the IRS's Reach