Kraken Ordered To Share Customer Information
As part of an Internal Revenue Service inquiry, a U.S. judge ordered cryptocurrency exchange Kraken to turn over some personal information about its users.
According to the request, the IRS wants Kraken to identify accounts that had at least $20,000 in yearly crypto trading from 2016 through 2020. Kraken has previously declined to cooperate with the IRS summons, citing, among other things, concerns that it would be an undue hardship and excessively broad.
“The Government has a legitimate purpose for seeking the materials described in the summon. As discussed above, the summons was issued in connection with an investigation by the IRS to determine the identity and correct federal income tax liability of U.S. persons who conducted transactions in cryptocurrency during the period 2016-2020,” Judge Joseph C. Spero said in the court document.
Kraken will have to disclose information such as names, date of birth, physical address, phone numbers and tax identification numbers.
(With inputs from Shikha Singh)
You need to login in order to Like
