IRS Directors of Digital Assets Accept Deferred Resignations Amid Layoffs
The IRS has seen significant changes, with two directors involved in digital assets leaving after accepting deferred resignations alongside over 20,000 employees. This move comes amidst expected layoffs but is not anticipated to alter the IRS's stance on cryptocurrency regulations.
Key Points
- Raj Mukherjee and Seth Wilks, directors of digital asset strategy and development, left the IRS.
- They accepted deferred resignation offers from the Trump administration.
- Both will remain on paid administrative leave until September.
- Sources indicate their departures are linked to anticipated IRS layoffs.
Other Notable Events
- The Federal Reserve withdrew crypto guidance for banks, allowing them to engage in crypto activities without pre-approvals.
- TRUMP Coin surged by 70% following news of a dinner event with top token holders and Donald Trump.
- Senator Dave McCormick invested up to $450,000 in Bitcoin ETFs amid ongoing legislative efforts regarding crypto.
- The FBI reported a 66% rise in losses due to crypto scams in 2024, totaling $9.3 billion.
- A federal judge ruled that Tornado Cash cannot be sanctioned again by the Treasury Department.
