The X platform owned by Musk urges the Supreme Court to protect Coinbase users from IRS investigations

ChainCatcher news, according to Bloomberg, Elon Musk's X platform is urging the U.S. Supreme Court to protect the company from subpoenas issued by federal law enforcement agencies under "no reasonable suspicion," in order to avoid being forced to disclose sensitive user financial data. The X platform is requesting the judge to reconsider a lower court's ruling that allowed the IRS to enforce a subpoena for Coinbase customer transaction records in a tax investigation involving over 14,000 users of cryptocurrency exchanges.

In a filing submitted last week, X platform's lawyers argued that the platform stores subscription and advertising data and plans to eventually provide financial services to users, but according to the Constitution, when these companies have entered into confidentiality agreements with users, the Constitution does not permit "warrantless searches of customer records held by third-party service providers."