Daisy Global co-founder Eduard Khemchan is currently involved in a dispute with the US Internal Revenue Service (IRS) over a subpoena seeking cryptocurrency-related records.
Court records show that Khemchan and Irina Yurchenko filed a petition on May 5, 2026, seeking to quash an IRS summons directed at CoinZoom, a Utah-based cryptocurrency exchange.
The dispute provides a glimpse into an ongoing IRS examination of the couple’s tax affairs and their digital-asset activity. The court filings also indicate that the IRS has been attempting to obtain information about cryptocurrency transactions that it says the couple did not fully disclose during the audit.
At the time of writing, the court had not yet issued a final decision on the competing motions.
According to the court filings, the IRS served a summons on CoinZoom on April 15, 2026, seeking records relating to Eduard Khemchan and Irina Yurchenko.
The requested material reportedly includes transaction information, Know Your Customer records, and correspondence covering the period from the opening of the relevant accounts through December 31, 2023.
Khemchan and Yurchenko subsequently asked the court to prevent enforcement of the summons.
Their argument focuses partly on the scope of the request. They contend that although the summons refers to an investigation of their 2023 tax year, the demand for records dating back to the beginning of their CoinZoom accounts extends beyond what they believe is relevant to that examination.
The petition also alleges that the requested information may already have been provided to the IRS and that the agency’s actions amount to another examination of tax years that the couple believes had previously been audited and closed.
The filings indicate that the CoinZoom summons was not the IRS’s first attempt to obtain information from the couple.
The Khemchans state that the IRS previously issued Information Document Requests, or IDRs, seeking information concerning their finances and cryptocurrency activity.
One August 2025 request reportedly sought records relating to the acquisition and disposition of virtual currency from the beginning of the relevant period through the end of 2023.
A further request dated February 9, 2026, sought information concerning foreign accounts, records relating to a Schedule C business reported on the couple’s 2023 tax return, and documentation concerning cryptocurrency transactions.
The Khemchans say they supplied substantial documentation in response to these requests.
They also assert that the IRS had previously summoned CoinZoom in January 2026 and that the exchange responded to that earlier request.
The couple’s legal argument is therefore, in part, that the government is seeking information that has already been obtained.
The IRS has presented a substantially different account of the situation.
In a July 28, 2026 filing asking the court to reject the Khemchans’ attempt to quash the summons, the government stated that the couple remained under audit.
According to the IRS, the agency sought the CoinZoom records after Khemchan and Yurchenko failed to provide information requested directly from them.
The government says its investigation concerns determining the couple’s correct federal income-tax liability for 2023.
The IRS also maintains that there is no genuine dispute requiring the evidentiary hearing requested by the Khemchans.
One of the more significant details in the government’s filing concerns the figures reported on the couple’s 2023 tax return.
The IRS states that Khemchan and Yurchenko reported a Schedule C business with approximately $5.3 million in gross receipts.
The return reportedly also included approximately:
- $405,832 in depreciation
- $726,074 in other expenses
- $1 million in cash contributions
The IRS subsequently selected the return for examination.
During that process, the government says it discovered that Khemchan had significant involvement with digital assets.
The IRS then sought additional documentation concerning cryptocurrency and other financial activity.
The government’s filing highlights another issue.
The IRS points to the digital-asset question included on the couple’s 2023 Form 1040.
The question asks taxpayers whether, during the year, they received digital assets as payment, reward, or compensation, or sold, exchanged, or otherwise disposed of a digital asset or financial interest in one.
According to the IRS, Khemchan and Yurchenko answered “No.”
The government says it later discovered substantial cryptocurrency-related activity connected to Khemchan.
The significance of that discrepancy remains a matter for the IRS examination and any subsequent proceedings. It would be inappropriate to characterize the filing alone as establishing intentional tax fraud or a deliberate false statement.
The IRS says its investigation expanded after it obtained information from financial institutions.
According to the government’s July filing, the agency discovered substantial wire transfers involving Khemchan and CoinZoom.
That discovery apparently prompted the IRS to seek information directly from the cryptocurrency exchange.
The government says the first summons did not produce all of the information it wanted.
The IRS then returned to the Khemchans with another document request seeking information about CoinZoom and other digital-asset exchanges with which they may have interacted.
The government says the couple provided some material but did not provide complete information concerning Khemchan’s CoinZoom activity.
The second CoinZoom summons followed.
Khemchan and Yurchenko have challenged the government’s attempt to enforce the summons.
Among their arguments, they contend that the IRS request is too broad and seeks material that is not relevant to a legitimate investigation.
They also argue that the government already possesses some of the requested information.
Another argument concerns the couple’s belief that the IRS had already completed examinations of their 2021 and 2022 tax years.
They maintain that a request covering the period from the beginning of their cryptocurrency accounts through the end of 2023 necessarily encompasses those earlier years.
The Khemchans have also argued that the IRS previously obtained information from CoinZoom and that the additional summons therefore raises questions about duplication and the scope of the investigation.
This is one area where the competing positions of the parties become particularly important.
The Khemchans have asserted that earlier examinations were closed.
The IRS, however, describes Khemchan and Yurchenko as currently being under audit and says it is attempting to obtain additional information necessary to determine their 2023 tax liability.
The fact that the government is still seeking information does not, by itself, establish whether any particular earlier tax year has legally been reopened.
That is a question governed by the applicable tax procedures and the specific circumstances of the examinations.
The court will ultimately determine how the parties’ arguments should be treated.
In its latest filing, submitted September 8, 2026, the IRS pushed back against the Khemchans’ claim that CoinZoom has already provided everything the government needs.
The government’s position is essentially that the existence of records does not eliminate the IRS’s need to review them.
The IRS says its objective is to examine the material supplied by CoinZoom and use it to determine the couple’s correct federal tax liability for 2023.
The government further argues that the Khemchans’ position effectively assumes that the IRS has already completed the necessary review of the CoinZoom information.
According to the IRS, that examination is precisely what remains to be done.
The Khemchans have asked the court to hold an evidentiary hearing concerning several issues raised in their challenge to the summons.
The IRS opposes that request.
In its September 8 reply, the government argued that the issues identified by the petitioners do not justify an evidentiary hearing and that the court can resolve the matter without conducting the broader examination requested by the couple.
The IRS described the proposed list of issues as resembling instructions for conducting a judicial review of the underlying tax audit.
The government argues that such a review is not appropriate at this stage of the proceedings.
Another notable detail appears in the government’s filings.
The IRS stated that no Department of Justice referral, as defined by the applicable tax statute, was in effect with respect to Khemchan or Yurchenko.
That is relevant because a formal DOJ referral can have implications for the IRS’s authority to issue certain summonses.
However, the statement should not be interpreted as proof that no other federal agency has any interest in the matter.
It simply reflects the status described by the IRS in the relevant court proceedings.
Likewise, the absence of a DOJ referral does not mean the IRS examination is finished.
The IRS filings concern Khemchan’s tax and cryptocurrency records rather than making a determination about Daisy Global.
Nevertheless, Khemchan’s association with Daisy Global provides relevant background because of his reported involvement in the company’s cryptocurrency-focused business activities during the period under examination.
Daisy Global was promoted as a cryptocurrency and online business opportunity and underwent several iterations over the years.
Jeremy Roma has often been identified publicly as one of the principal figures associated with the project, while Khemchan and Ilya Martin have also been described in public material as co-founders or key figures.
Claims concerning the amount of money allegedly lost by Daisy Global participants have varied, and figures cited publicly should therefore be attributed to their respective sources rather than presented as independently established losses.
The business underwent multiple changes in its structure and branding.
By around 2023, promotional activity associated with Daisy Global had shifted toward an AI trading proposition involving EndoTech.
EndoTech itself has been associated with an MLM-style trading operation and has attracted scrutiny in online reporting.
More recently, promotional material has pointed to another iteration involving TAG Markets.
Daisy-related participants have also been directed toward other ventures, including projects referred to as Limitless and Blockchain Sports.
The status of these different ventures has changed over time, and their histories should be considered separately rather than treating every project as one continuous legal or corporate entity.
The existence of the IRS proceeding is significant, but it is important not to overstate what the court filings demonstrate.
The filings establish that the IRS is seeking financial and cryptocurrency records relating to Khemchan and Yurchenko.
They also show that the agency is conducting an examination involving their 2023 tax return and that it considers additional CoinZoom information relevant to determining their tax liability.
The documents do not, by themselves, establish that Khemchan committed tax fraud, that cryptocurrency was unlawfully obtained, or that the IRS has concluded that any criminal offence occurred.
They also do not establish whether any criminal investigation by another federal agency is underway.
Those distinctions are important while the proceedings remain unresolved.
The legal dispute now centers on whether the IRS summons to CoinZoom should be enforced and whether the court should hold the evidentiary hearing requested by the Khemchans.
The Khemchans filed their latest response on August 25, 2026.
The IRS subsequently filed its reply on September 8.
As of the time of publication, the court had not issued a final ruling on the competing requests.
The outcome could determine whether the IRS obtains and reviews the disputed CoinZoom records as part of its examination.
More broadly, the proceedings could provide additional information about the scope of the government’s examination of Khemchan and Yurchenko’s cryptocurrency activity.
The dispute illustrates the difficulties that can arise when cryptocurrency transactions intersect with tax reporting and complex online business structures.
For the IRS, cryptocurrency exchanges can provide an important source of transaction and customer-identification information when taxpayers do not provide complete records themselves.
For taxpayers, the scope and relevance of summonses can become significant legal questions, particularly where requests cover multiple years or large amounts of historical transaction data.
In the Khemchan case, the competing filings show two very different interpretations of the same situation.
The Khemchans argue that the IRS is seeking information that is unnecessarily broad and potentially duplicative.
The government argues that it needs the information to complete its examination and determine the couple’s actual 2023 tax liability.
The court’s eventual decision should provide greater clarity over that dispute.
Eduard Khemchan and Irina Yurchenko are currently engaged in a legal challenge concerning an IRS summons issued to CoinZoom for cryptocurrency, KYC, and related records.
The government’s filings indicate that the IRS is examining the couple’s 2023 tax return and became interested in their digital-asset activity after obtaining financial information from other sources.
The IRS says the couple did not fully respond to earlier information requests and that CoinZoom records are needed to complete the examination.
The Khemchans dispute the breadth and necessity of the summons and argue that much of the information has already been provided or obtained.
The case also provides a window into Khemchan’s financial and cryptocurrency activity during a period when he was publicly associated with Daisy Global and other online ventures.
However, the current court proceedings should not be treated as a final finding of tax wrongdoing or criminal conduct.
The legal process remains ongoing, and the court has yet to resolve the competing motions.
Lynn Martelli is an editor at Readability. She received her MFA in Creative Writing from Antioch University and has worked as an editor for over 10 years. Lynn has edited a wide variety of books, including fiction, non-fiction, memoirs, and more. In her free time, Lynn enjoys reading, writing, and spending time with her family and friends.
