Kraken to Provide 42,000 Consumers’ Data with IRS Following Court Order

Kraken, a cryptocurrency exchange, has announced that it will comply with a June court order by providing the Internal Revenue Service (IRS) with data on tens of thousands of its users.

In particular, the company will divulge data on cryptocurrency transactions that Kraken customers made between 2016 and 2020 that valued more than $20,000. Users with addresses in the United States who made these sorts of transactions will have their account history, name, date of birth, Tax ID, address, and contact details forwarded to the IRS.

The company stated last week that emails were sent to every Kraken customer who was impacted by the announcement. A representative for Kraken also verified the development with Decrypt. The firm intends to share the user data in early November.

After two years of litigation over data sharing between the federal government and the privacy-minded cryptocurrency company Kraken, a federal judge in June ordered Kraken to provide such information to the IRS. 42,017 Kraken accounts are expected to be impacted by the decision, according to court documents in that c

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