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Edited by Kabir903 at 31-10-2023 11:30 PM
"According to a federal court order from June, the cryptocurrency exchange Kraken is set to provide specific customer information to the United States Internal Revenue Service.
Cryptocurrency exchange Kraken, based in the United States, confirmed on Thursday that it will share certain user information with the IRS in November 2023, continuing a tax dispute that began in May 2021.
In an email sent to affected U.S. users, Kraken stated that the company would comply with the previous court order and provide the requested user information. According to the order, Kraken is required to provide personal and transaction data of customers who conducted transactions exceeding $20,000 between 2016 and 2020. This information includes names, birthdates, taxpayer identification numbers, addresses, phone numbers, emails, and transaction records for the past five years.
While the IRS initially requested additional information such as IP addresses, employment status, and sources of wealth, Kraken succeeded in providing simplified data.
The order reduced the number of users Kraken is required to provide information for from the IRS's initial request of 59,331 individuals to 42,017 individuals.
It's worth noting that Kraken is not the first cryptocurrency exchange to share user information with the IRS. Back in 2018, Coinbase provided information for about 13,000 users. In addition, in 2021, the IRS issued similar requests to other crypto businesses such as Poloniex and Circle." |
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Post time 31-10-2023 23:11:41
