Kraken Submits Record Number of Crypto Tax Forms to IRS

Crypto exchange Kraken has submitted an unprecedented number of tax forms to the Internal Revenue Service (IRS) for the year 2025. According to the official announcement, the company filed over 56 million Forms 1099-DAs, which are necessary for registering crypto transactions.

The data suggests that most filings result from everyday crypto usage, such as staking rewards, micropayments, and small purchases, rather than high-value trading. Each transaction generates a separate form, and taxpayers are required to report them individually.