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+--- Thread: Kraken Ordered to Turn Over Its Users’ Information to the IRS (/showthread.php?tid=934)
Kraken Ordered to Turn Over Its Users’ Information to the IRS - Infolurker - 07-05-2023
I will post this as a legal issue as in reality those who are trading crypto "under the table" are about to get an IRS tax surprise. There is no way the central banks are going to allow "competition" and I believe all existing cryptos (those that survive) will be integrated, monitored, and controlled by the One World Currency to rule them all.
IRS is going to have a field day.
https://www.msn.com/en-us/money/companies/kraken-ordered-to-turn-over-its-users-information-to-the-irs/ar-AA1dgZD5
Quote:Cryptocurrency exchange Kraken was ordered by a judge to provide a wide swath of information about its users to the Internal Revenue Service for the agency’s investigation of underreported tax liability.
The IRS has said it wants information on Kraken accounts that did at least $20,000 of cryptocurrency trading in any single year, from 2016 to 2020. Kraken had called the agency’s summons an “unjustified treasure hunt,” arguing it went well beyond the boundaries set in a similar fight with Coinbase about six years ago.Friday’s ruling siding with the government comes amid a deepening US crackdown on cryptocurrency. The Securities and Exchange Commission this month filed separate lawsuits accusing Coinbase of running an illegal exchange and alleging that Binance.US mishandled customer funds, misled investors and regulators, and broke securities rules.
RE: Kraken Ordered to Turn Over Its Users’ Information to the IRS - Ninurta - 07-05-2023
So much for that bullshit claim that cryptocurrency transactions are anonymous...
.