The judge orders Kraken to submit personal information of certain customers to support the investigation by the Internal Revenue Service.

Odaily News - As part of an investigation by the Internal Revenue Service (IRS), a US judge has ordered Kraken to hand over certain personal information about its users. According to the order, the IRS wants Kraken to identify accounts that had annual cryptocurrency transaction amounts exceeding $20,000 between 2016 and 2020. Kraken had previously refused to comply with the IRS subpoena, citing concerns about the heavy burden it would entail and its overly broad scope.



Judge Joseph C. Spero stated in the court document: "The government is seeking the subpoenaed materials for a legitimate purpose. The subpoena is related to an investigation by the IRS to determine the identities of US individuals conducting cryptocurrency transactions during the years 2016-2020 and their federal income tax obligations."



It is reported that Kraken will need to disclose customer names, dates of birth, physical addresses, telephone numbers, and tax identification numbers. (The Block)