US Judge orders Kraken to share user data
US Judge orders Kraken to share user data for a government tax investigation.
A US judge has told the cryptocurrency exchange, Kraken, to share personal information about its users for a government investigation. The Internal Revenue Service (IRS) wants Kraken to identify users who had at least $20,000 in crypto trading annually from 2016 to 2020.
Kraken previously did not agree to the IRS' request. They said it would be too difficult and the request was too broad.
Judge Joseph C. Spero stated that the government has a good reason to ask for this information. The IRS is trying to find out the identity and the correct federal income tax of US people who made cryptocurrency transactions between 2016 and 2020.
Kraken will have to share information such as names, birth dates, addresses, phone numbers, and tax identification numbers.
