July 4 (Cointime) - Kraken, a US-based cryptocurrency exchange, has been ordered by a federal judge to hand over trading information of users who have made transactions worth $20,000 or more to the Internal Revenue Service (IRS). The IRS is investigating US taxpayers who have used cryptocurrency to ensure they have complied with internal revenue laws.

Kraken had previously refused to comply with the IRS's request for information, but the judge ruled that the summons should be enforced. The exchange is now required to provide information about 59,351 accounts and approximately 160 million transaction records. This ruling follows a series of enforcement actions taken by the US government against crypto exchanges, including Kraken, Gemini, Genesis, Binance, and Coinbase.