June 15, 2021

The court ordered the Kraken exchange to share customer data with the IRS

The court ordered the Kraken exchange to share customer data with the IRS

The Northern California Court ruled that Kraken must provide information about users who traded over $ 20,000 between 2016 and 2020 to the IRS.

While Kraken is attending the trial, the exchangeso far they have not been accused of anything. As part of the process, the IRS wants information about a “certain class of people” who have not reported trading profits on their declarations.

In addition, the tax authorities want to check how carefully the exchange followed the KYC and AML rules.

The attorney representing the IRS stated:

People who trade cryptocurrencies must fulfill their tax obligations just like any other taxpayer.

Subscribe to ForkNews on Telegram to keep abreast of news from the world of cryptocurrencies

According to the materials cointelegraph.com