If necessary, the Internal Revenue Service (IRS) can request data on American traders who perform transactions on the Kraken cryptocurrency exchange. The corresponding decision was made in the US federal court.
The statement of the Ministry of Justice clarifies that the tax authorities will be able to request these data for those traders who made transactions for amounts exceeding $ 20,000.
Kraken CEO Jesse Powell warned about the inevitability of strengthening control over cryptocurrency market participants back in early April.
He stressed that this is inevitable amid the growing use of digital assets. Supervisors will not allow the crypto market to be left unattended, Powell said.
The IRS expects to receive data on all traders who made large transactions from 2016 to 2020. At the same time, no charges were filed against the Kraken exchange. The supervisor will only identify tax evaders.
Last month, the IRS secured the right to request the same data on traders who transact on the Circle and Poloniex platforms.
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