Kraken to share user data with IRS next month following June court order

Quick Take

  • Crypto exchange Kraken will share user data with the IRS next month following a June court order.
  • The data concerns Kraken U.S. users with transactions exceeding $20,000 from 2016 to 2020.

Crypto exchange Kraken is set to share select user information with the Internal Revenue Service next month after being mandated by a court order received in June.

"Kraken expects to share this information covered by the court's order in early November 2023," reads an email the crypto exchange sent to affected U.S. users on Wednesday that was seen by The Block. Kraken confirmed the email and reiterated some of the comments made in it.

The IRS-Kraken battle began in May 2021 when a U.S. federal court authorized the tax agency to serve a John Doe summons on the crypto exchange and its subsidiaries