Cryptocurrency exchange Kraken is sending a letter to clients notifying them that after losing a lengthy court case, they will need to turn over sensitive data to the Internal Revenue Service (IRS) after a legal battle that began in May 2021. Surfacing on Reddit this week, the letter follows a summons from the IRS, and is part of an ongoing effort by tax authorities to access information related to cryptocurrency transactions. The IRS had initially demanded a range of records and data related to Kraken’s U.S. clients. In response, Kraken…
Read MoreKraken Begins Notifying Customers It Will Send Their Data to the IRS This November
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