* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, May 28, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Drew Brees opens Surge Entertainment Center in Metairie hot spot for new businesses – NOLA.com

    Drew Brees Unveils Exciting New Surge Entertainment Center in Metairie!

    Will Gio Stay Or Go On May 27 General Hospital? – Yahoo

    Will Gio Make a Shocking Exit on May 27th’s General Hospital

    First look: Disney shows star villains, Little Mermaid, tech – Yahoo

    Unveiling Disney’s Dark Side: A Sneak Peek at Iconic Villains, The Little Mermaid, and Cutting-Edge Technology!

    Fans Call Out Disney For Cutting Favorite ‘Lilo & Stitch’ Character: ‘It Makes Me Want to Cry’ – Yahoo

    Disney Fans Heartbroken Over the Cut of Beloved ‘Lilo & Stitch’ Character: ‘It Makes Me Want to Cry

    Oh My Girl’s sister group USPEER from WM Entertainment introduces individual members with high-energy clips for ‘Speed Zone’ debut – allkpop

    Get Ready to Meet USPEER: Oh My Girl’s Sister Group Unveils Dynamic Members in ‘Speed Zone’ Debut Clips!

    Ways to save money on entertainment and travel this summer – CBS News

    Smart Strategies to Slash Your Summer Entertainment and Travel Costs!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    MSE, DXC Technology expand tech partnership – Sports Business Journal

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    Technology Driving Performance: How Elite MA Plans Leverage Data, Care Coordination, and Advanced Analytics to Thrive Amid CMS’s Rigorous 2025 Standards, Black Book – Newswire.com

    Unlocking Success: How Top MA Plans Harness Data and Analytics to Excel Under CMS’s 2025 Standards

    Arqit acquires Ampliphae’s technology IP, enhancing its global encryption portfolio – GlobeNewswire

    Arqit Boosts Global Encryption Portfolio with Strategic Acquisition of Ampliphae’s Technology IP

    Searenergy partners with Tethys Robotics on subsea inspection technology – Windtech International

    Searenergy partners with Tethys Robotics on subsea inspection technology – Windtech International

    China successfully tests new-gen satellite-to-ground data transmission technology – Global Times

    China successfully tests new-gen satellite-to-ground data transmission technology – Global Times

    Wireless Connectivity Technology Market Set to Witness – openPR.com

    Exploring the Future: Wireless Connectivity Technology Market Poised for Remarkable Growth!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Drew Brees opens Surge Entertainment Center in Metairie hot spot for new businesses – NOLA.com

    Drew Brees Unveils Exciting New Surge Entertainment Center in Metairie!

    Will Gio Stay Or Go On May 27 General Hospital? – Yahoo

    Will Gio Make a Shocking Exit on May 27th’s General Hospital

    First look: Disney shows star villains, Little Mermaid, tech – Yahoo

    Unveiling Disney’s Dark Side: A Sneak Peek at Iconic Villains, The Little Mermaid, and Cutting-Edge Technology!

    Fans Call Out Disney For Cutting Favorite ‘Lilo & Stitch’ Character: ‘It Makes Me Want to Cry’ – Yahoo

    Disney Fans Heartbroken Over the Cut of Beloved ‘Lilo & Stitch’ Character: ‘It Makes Me Want to Cry

    Oh My Girl’s sister group USPEER from WM Entertainment introduces individual members with high-energy clips for ‘Speed Zone’ debut – allkpop

    Get Ready to Meet USPEER: Oh My Girl’s Sister Group Unveils Dynamic Members in ‘Speed Zone’ Debut Clips!

    Ways to save money on entertainment and travel this summer – CBS News

    Smart Strategies to Slash Your Summer Entertainment and Travel Costs!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    MSE, DXC Technology expand tech partnership – Sports Business Journal

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    Technology Driving Performance: How Elite MA Plans Leverage Data, Care Coordination, and Advanced Analytics to Thrive Amid CMS’s Rigorous 2025 Standards, Black Book – Newswire.com

    Unlocking Success: How Top MA Plans Harness Data and Analytics to Excel Under CMS’s 2025 Standards

    Arqit acquires Ampliphae’s technology IP, enhancing its global encryption portfolio – GlobeNewswire

    Arqit Boosts Global Encryption Portfolio with Strategic Acquisition of Ampliphae’s Technology IP

    Searenergy partners with Tethys Robotics on subsea inspection technology – Windtech International

    Searenergy partners with Tethys Robotics on subsea inspection technology – Windtech International

    China successfully tests new-gen satellite-to-ground data transmission technology – Global Times

    China successfully tests new-gen satellite-to-ground data transmission technology – Global Times

    Wireless Connectivity Technology Market Set to Witness – openPR.com

    Exploring the Future: Wireless Connectivity Technology Market Poised for Remarkable Growth!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

IRS Knockout Blow: Kraken Forced To Unleash User Data In Crypto Showdown

July 2, 2023
in Business
IRS Knockout Blow: Kraken Forced To Unleash User Data In Crypto Showdown
Share on FacebookShare on Twitter

You are here: Home/ News/ IRS Knockout Blow: Kraken Forced To Unleash User Data In Crypto Showdown

Kraken

July 1, 2023 by Ammar Raza

In a significant development, a federal court has ruled that popular cryptocurrency exchange Kraken must surrender user account and transaction data to the Internal Revenue Service (IRS). 

The court’s decision comes after the IRS filed a petition earlier this year, seeking the information to investigate potential tax underreporting by Kraken users.

Legal Battle Emerges After Kraken’s SEC Settlement

The legal battle began shortly after Kraken resolved allegations from the U.S. Securities and Exchange Commission (SEC) regarding violations of securities law related to its staking service. 

Following this settlement, the IRS issued a summons to the exchange in 2021, which Kraken allegedly failed to comply with. The tax enforcement agency aimed to assess tax liabilities for users who engaged in cryptocurrency transactions between 2016 and 2020.

Judge Joseph Spero presided over the case and ruled that the exchange must furnish account and transaction details of users who conducted crypto transactions amounting to more than $20,000 in value during any given calendar year between 2016 and 2020. 

The information demanded includes users’ full names, pseudonyms, birthdates, taxpayer identification numbers, physical addresses, phone numbers, email addresses, and other pertinent documents.

However, Judge Spero rejected certain IRS requests, including those for employment information and source of wealth of Kraken’s users. He argued that such demands were excessively broad and not necessary to achieve the IRS’s purpose, particularly for the majority of anonymous “Doe” users.

The court filing concludes that Kraken must now produce the specified documents for affected users. This move aims to enable the IRS to scrutinize transactions and determine whether tax obligations were accurately reported during the specified period.

It’s essential to note that Kraken may also provide blockchain addresses and transaction hashes that are already part of the exchange’s transaction data. Additionally, the court ruled that Kraken can furnish raw data for IRS review, even if it does not specifically identify chainsplitting transactions.

However, this court ruling marks a significant development in the IRS’s efforts to ensure proper tax compliance within the cryptocurrency industry. The outcome sets a precedent for potential future actions by tax authorities seeking to uncover undisclosed tax liabilities among cryptocurrency users.

Related Reading | Stellar Lumens Make Big Gains, But DigiToads Up 370% With Strong  Social Media Presence 

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : TronWeekly – https://www.tronweekly.com/irs-knockout-blow-kraken-forced-to-unleash/

Tags: businessKnockoutKraken
Previous Post

China’s eco woes rise, US consumer spending dip

Next Post

Celsius Granted Permission To Convert Non-BTC & Non-ETH Cryptocurrencies

May 15 – Ecology proposes new updates to help industry transition to clean semi-trucks – Washington State Department of Ecology (.gov)

Ecology Unveils Exciting New Updates to Accelerate the Shift to Clean Semi-Trucks!

May 28, 2025
Earth’s core is ‘leaking’ gold, study finds – Live Science

Unlocking Earth’s Secrets: New Study Reveals Gold is ‘Leaking’ from the Core!

May 28, 2025
Reading Science Center awarded $175,500 Neighborhood Assistance Tax Credit to double education space – Berks Weekly

Reading Science Center Secures $175,500 Tax Credit to Expand Educational Space!

May 28, 2025

Want to Live Long? Lifestyle Matters More Than Genes – Time Magazine

May 28, 2025
This City Was Named the World’s Fastest-growing Wealth Hub With 156 Centimillionaires and 22 Billionaires – Travel + Leisure

This City Was Named the World’s Fastest-growing Wealth Hub With 156 Centimillionaires and 22 Billionaires – Travel + Leisure

May 28, 2025
Five Things We Learned About…The Creator Economy From D&AD Festival – Creative Salon

Unlocking Insights: Five Key Takeaways on the Creator Economy from D&AD Festival

May 28, 2025
New Portland entertainment venue to begin construction in June – KGW

Exciting New Entertainment Venue Set to Break Ground in Portland This June!

May 28, 2025
Can domestic financing solve the global health funding crisis? – Devex

Can domestic financing solve the global health funding crisis? – Devex

May 28, 2025
Brian Hughes to become NASA Chief of Staff – Florida Politics

Brian Hughes Takes the Helm as NASA’s New Chief of Staff!

May 28, 2025
MSE, DXC Technology expand tech partnership – Sports Business Journal

MSE, DXC Technology expand tech partnership – Sports Business Journal

May 28, 2025

Categories

Archives

May 2025
MTWTFSS
 1234
567891011
12131415161718
19202122232425
262728293031 
« Apr    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (647)
  • Economy (660)
  • Entertainment (21,567)
  • General (15,246)
  • Health (9,702)
  • Lifestyle (663)
  • News (22,149)
  • People (662)
  • Politics (668)
  • Science (15,883)
  • Sports (21,167)
  • Technology (15,648)
  • World (648)

Recent News

May 15 – Ecology proposes new updates to help industry transition to clean semi-trucks – Washington State Department of Ecology (.gov)

Ecology Unveils Exciting New Updates to Accelerate the Shift to Clean Semi-Trucks!

May 28, 2025
Earth’s core is ‘leaking’ gold, study finds – Live Science

Unlocking Earth’s Secrets: New Study Reveals Gold is ‘Leaking’ from the Core!

May 28, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version