Kraken Ordered to Share User information with the IRS!

The post Kraken Ordered to Share User information with the IRS! appeared first on Coinpedia Fintech News

Kraken has been ordered by a federal court to share some user information with the Internal Revenue Service (IRS) next month. The court order, received in June, mandated Kraken to provide profile information and transaction histories for clients who conducted transactions exceeding $20,000 in any single year between 2016 and 2020. This information includes names, birthdates, taxpayer identification numbers, addresses, phone numbers, email addresses, and transaction histories for those five years. The IRS had initially sought more extensive information, but Kraken was able to reduce the number of affected clients and the amount of client data it must produce. Coinbase and other crypto firms have had to share user information with the IRS in the past.