Kraken filed 56 million crypto tax forms for 2025. One-third were below $1

What Happened

Crypto exchange Kraken filed 56 million transaction forms with the IRS for 2025, with 18.5 million covering transactions under $1 and over half worth $10 or less. Only 8.5% exceeded $600 reporting threshold. Kraken estimates active traders face $250-$500 annual compliance costs, arguing the burden is disproportionate to IRS revenue collected.

Key Entities

AI Tools