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Court Authorizes IRS to Summon User Records From Kraken Cryptocurrency Exchange

The Internal Revenue Service (IRS) has obtained court authorization to serve a John Doe summons on cryptocurrency exchange Kraken. The tax agency is seeking data of users with $20,000 or more in cryptocurrency transactions during the years 2016 to 2020.
IRS Wants User Information From Crypto Exchanges
The U.S. Department of Justice (DOJ) announced Wednesday that a federal court in the Northern District of California has authorized the IRS “to serve a John Doe summons on Payward Ventures Inc., and subsidiaries d/b/a Kraken.”
The IRS is “seeking information about U.S. taxpayers who conducted at least the equivalent of $20,000 in transactions in cryptocurrency during the years 2016 to 2020” on Kraken cryptocurrency exchange, the DOJ described.
According to the summons filed:
IRS directed Kraken to produce records identifying the U.S. taxpayers described above, along with other documents relating to their cryptocurrency transactions.
IRS Commissioner Chuck Rettig commented: “This

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