In the world of cryptocurrency, the much publicized Coinbase Summons by the IRS just got more teeth to it. The “John Doe” Summons served on Coinbase – seeking information of records and documents regarding US persons conducting virtual currency transactions – covered some nearly 9 million transactions and nearly 15,000 account holders. Initially, Coinbase refused to comply but the Summons was eventually upheld. When the Summons was challenged by an account holder, in Gratkowski, the 5th Circuit ruled that no search warrant is required to obtain records of Bitcoin transactions under the well-established doctrine that “a person generally has no legitimate expectation of privacy in information he voluntarily turns over to third parties.” More cryptocurrency intermediaries should be prepared for government subpoenas and more crypto users should consider, if they want their information private, using offsite hard (crypto) wallets.