U.S. authorises IRS to find taxpayers who have used cryptocurrency

A federal court in the United States has authorised The Internal Revenue Service (IRS) to activate the investigation framework known as “John Doe Summons” into transactions involving the Kraken cryptocurrency exchanges.


The purpose of the investigation is to identify American taxpayers who have used the reported cryptocurrency, as announced yesterday, Wednesday, the US Department of Justice.


The IRS is looking for information on taxpayers who traded at least $20.000 in the reported cryptocurrency between 2016 and 2020, according to a Justice Department statement.


Those who traded using cryptocurrencies will have to pay their taxes, just like any other taxpayer,” said David Hubert, the acting assistant minister of justice in the same department.