Kraken to Turn Over User Data to IRS Per Court Order
Meanwhile, this development comes shortly after Kraken reached a settlement with the Securities and Exchange Commission (SEC) over charges of securities law violations linked to its staking service. advertisement The Court Order and its Objectives The court order , issued by the United States District Court for the Northern District of California, mandates Kraken to provide the IRS with customer information for users who conducted transactions exceeding $20,000 in crypto between 2016 and 2020. Consequently, Kraken is now obligated to disclose user names, transaction records, birthdates, taxpayer identification numbers, addresses, phone numbers, email addresses, and other documents. This court order underscores the ongoing efforts of regulatory authorities to ensure tax compliance within the crypto industry. In addition to disclosing user information, Kraken has been directed by a U.S. federal court to release blockchain addresses and transaction hashes to the...