Immediately after the court ruling that provides access to the data of the customers of the Circle cryptocurrency exchange, the US Revenue Service requests that it be given access to the corresponding data of the Kraken exchange.
“Those who trade in cryptocurrencies must be consistent with their tax obligations, just like any other taxpayer,” said David Hubbert, Deputy Assistant Attorney General for Taxation at the Department of Justice. IRS to ensure that cryptocurrency owners will pay their fair share of taxes. ”
The US Revenue Service wants to identify taxpayers who transferred $20.000 or more, with transactions involving cryptocurrencies, from 2016 to 2020. According to auditors, access to exchange offices to check whether those involved in the exchange of cryptocurrencies are fully consistent with their tax obligations.
Kraken is next
Following Circle, the Department of Justice filed a similar request with the tax regulator, this time in the U.S. District Court for the Northern District of California, for access to Kraken’s client records.
For the time being, however, the request was rejected on the grounds that it was “excessive” and that the IRS should limit its request. The IRS has been given until April 14 to re-submit a more specific version of the request.
