Is the court order for Kraken to disclose user data to the IRS for tax compliance widely accepted?
07/05/2023 •
No, it's not widely accepted. — The majority of the comments indicate a negative sentiment towards the court order, with concerns about privacy invasion, potential misuse of data by third parties, and the broad nature of the IRS's requests. The comments also show support for Kraken's previous resistance against the IRS's demands.
Stats
| 100% | 591 |
| 52% | Negative |
| 36% | Neutral |
| 13% | Positive |
| 50% | 😡 Anger |
| 46% | 😱 Fear |
| 4% | 😃 Joy |
| 0% | 😢 Sadness |
| 0% | 🥰 Love |
| 0% | 😯 Surprise |
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Story
- People are expressing shock and frustration at the court order to Kraken to disclose user data to the IRS, seeing it as too broad and invasive, potentially leading to the data being sold or given to third-party companies.
- Users commend Kraken for its previous rejection of broad IRS requests, appreciating their efforts to resist such investigations, and are calling on the platform to appeal to the Supreme Court in order to protect their privacy.
- There is substantial criticism of the US Government and IRS, with users expressing negative sentiments towards these entities, viewing them as exploitative or overreaching.
- Some users see the situation as exciting and interesting for cryptocurrencies, considering it a sign of their growing importance.
- There are suggestions that the IRS should use other existing data sources, such as insurance, home registry, and individual tax returns, to identify potential tax evaders instead of requesting extensive data from Kraken.
- A viewpoint suggests that Kraken should reverse the situation and demand the IRS to disclose their own information.
- Concerns are raised about the American IRS accessing non-US users' information, seen as an invasion of privacy and an overreaching act.
- Some users acknowledge that it's within the IRS's jurisdiction to request user data from Kraken for tax compliance purposes.
- Comments suggest that the court-ordered disclosure is a necessary step for investigating taxes in the cryptocurrency world.
- There is an opinion that the court order and IRS request is part of how the IRS operates and is not specific to Kraken or any other cryptocurrency exchange.