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(Reuters) - A federal court in the United States has authorized the Internal Revenue Service (IRS) to serve a "John Doe Summons" on the crypto exchang.
Court orders Kraken to provide information on user transactions to the IRS A court in northern California has ordered Kraken to provide information on users who traded more than $20,000 between 2016 and 2020 to the IRS. 23416 Total views News
Kraken has been ordered to provide information on its users who conducted the equivalent of $20,000 in crypto transactions in any one year, between 2016 and 2020, to the United States Internal Revenue Service.
A federal court in northern California authorized the IRS to serve a “John Doe summons” on Kraken Wednesday. The exchange is not alleged to have done anything wrong.
The IRS is after the records of an “ascertainable group or class of persons” who may have failed to comply with tax reporting and internal revenue laws.