Does Phemex report to the IRS?

Could you please clarify if Phemex, a cryptocurrency exchange, is obligated to report its users' transactions to the Internal Revenue Service (IRS) in the United States? Is there a policy in place that ensures compliance with tax reporting regulations, or does Phemex operate under a different set of rules? Additionally, what measures does Phemex take to ensure the confidentiality and privacy of its users' financial information, especially in light of potential tax reporting requirements?