The request was filed back in February of this year. The IRS is interested in the accounts of Kraken users who made transactions over $20,000 in a calendar year between 2016 and 2020. <br
The exchange will be required to turn over to the agency the user’s name and aliases, date of birth, taxpayer number, address, phone number, email address and other data. In addition, Kraken must report blockchain addresses and user transaction hashes.
In doing so, Judge Joseph Spero rejected IRS requests for data about Kraken employees and the exchange’s “source of wealth:
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“The court must determine whether the government’s requests are sufficiently clear and narrowly tailored. They should not receive data that they do not need to achieve their goal. The court finds that the agency is asking for far more data than it needs to fulfill its responsibilities.”
Earlier, lawyers for Kraken filed a petition with the court seeking a declaration that the IRS’s request for data about the exchange’s users was improper.