Does Kraken report to IRS?

As a cryptocurrency enthusiast and investor, I'm curious about the tax compliance practices of major exchanges. Specifically, I'm wondering if Kraken, a renowned cryptocurrency exchange, reports its users' transactions to the Internal Revenue Service (IRS) in the United States. With the increasing popularity of digital currencies, it's crucial to understand the tax implications and ensure compliance. Does Kraken adhere to IRS regulations and provide necessary information for tax reporting purposes? I'm keen to learn more about their practices in this regard.