U.S. cryptocurrency exchange Kraken will send user data to the Internal Revenue Service (IRS) in November under a court order in June. The exchange reportedly sent an email to affected users, notifying them that it is set to share user information “by the court’s order in early November 2023.” Kraken gave no further comment on the matter.
In February this year, the IRS filed a petition with the District Court in the Northern District of California to order Kraken’s revelation concerning user data.
The IRS claimed Kraken failed to comply with a John Doe summons issued by the federal agency in 2021. A John Doe summons is a type of subpoena that allows the IRS to obtain information about taxpayers whose identities are unknown.
Kraken Set to Reveal User Database
The IRS expects to launch an investigation into the tax affairs of users who made cryptocurrency transactions from 2016 until 2020. The purpose is to…
