China News Today Official TheBitTimes.com

Cryptocurrency exchange Kraken will share selected user information with the IRS starting from the next month. According to The Block, the decision comes after it was ordered by a court order received in June. “Kraken expects to share this information covered by the court’s order in early November 2023.”  The Block The IRS and Kraken battle began in May 2021 when a US federal court allowed the tax agency to serve a John Doe summons on the cryptocurrency exchange and its subsidiaries in an attempt to catch tax evaders. The IRS said at the time that Kraken did not comply with the subpoena. In February 2023, the IRS filed a petition seeking certain customer data from the Kraken exchange. The requirements apply to users with more than $20,000 in trading volume in 12 months between 2016 and 2020. In April, Kraken filed a lawsuit against the IRS, which required the platform to provide user data. The company denies the regulator’s right to receive info...

Despite stepping down as CEO for three years, Yuzu continued to have a significant influence on the company being the firm’s largest stakeholder. Yuzo Kano, the co-founder of Japan-based cryptocurrency exchange bitFlyer, is seeking to reinstate himself as CEO in a shareholders meeting next month, in an apparent bid to reinvigorate what he claims is a stagnating firm.  Kano resigned in 2019 following a series of management disputes but is now determined to reinvigorate the crypto firm and lead it toward an Initial Public Offering (IPO) in the coming months, according to a Feb. 26 report by Bloomberg. The former CEO also said he also wants to put Japan back on the map in the world of cryptocurrency. “I will make it capable of fighting on the international stage,” the bitFlyer co-founder said in a recent interview. Kano shared the Bloomberg post on Feb. 27 to his 111,500 Twitter followers. Source: Twitter. According to the interview, if reinstate d, he intends on introducing stablecoins ...