The US District Court for the Northern District of California has ordered US cryptocurrency exchange Kraken to provide the country's Internal Revenue Service (IRS) with customer information.
As a result, the platform is required to disclose the names, dates of birth, real addresses, phone numbers and tax ID numbers of users who have transacted more than $20,000 in a calendar year.
According to Judge Joseph Spero:
"The Government has a legitimate purpose for seeking the materials described in the summon."
According to the documents, the IRS has requested information to "identify and adjust the tax liabilities of US citizens who transacted in cryptocurrencies in 2016-2020."
The agency filed a related request in February 2023, when Kraken settled charges brought by the US Securities and Exchange Commission (SEC). The company then emphasized one of the platform's guiding principles is to ensure the security and privacy of users.