Kraken receives court order to turn over customer data to IRS
Crypto exchange Kraken has been asked by the Internal Revenue Service (IRS) through a federal court order to provide account and transactional information. According to the June 30 court filing, the IRS needs the information on Kraken accounts that traded at least $20,000 of a cryptocurrency over a year, which applies to active users between 2016 and 2020. Initially, the IRS had filed a petition on Kraken in the Northern District of California in February. This petition case, shortly after the exchange had settled charges the U.S. Securities and Exchange Commission filed saying that it had violated securities law through its staking service. In the filing, the IRS said it had given Kraken a summons in 2021 but failed to comply. The Internal Revenue Service (IRS) in the US has issued a directive to #Kraken, requiring the exchange to disclose user information for individuals who conducted transactions exceeding $20,000 within the period of 2016 to 2020. pic.twitter.com/612jYjUhO...