The Internal Revenue Service (IRS) has secured an order to obtain records from Kraken on customers performing cryptocurrency trades. 

In the latest crackdown centered on cryptocurrency trading which is not reported for tax and income purposes, the IRS has been granted permission by a federal court in the Northern District of California to issue a “John Doe” summons on Payward Ventures Inc. and Kraken, its US-facing arm. 

The US Department of Justice (DoJ) said this week that the IRS is seeking information on US taxpayers who have conducted at least $20,000 — or the equivalent — in cryptocurrency trades on the platform between 2016 and 2020.  

It is important to note, however, that the summons does not imply wrongdoing on the San Francisco-based cryptocurrency exchange’s part. 

The summon seeks records on US taxpayers from Kraken, counted among its customers, who may have not…

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