Crypto Weekly
Subscribe
No Result
View All Result
Crypto Weekly
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Learn
    • Crypto 101
    • Crypto Wallets
    • Crypo Investing
  • Regulation
  • Advertise with us
  • Subscribe
No Result
View All Result
Crypto Weekly Magazine
No Result
View All Result
  • Home
  • News
  • Learn
  • Regulation
  • Advertise with us
  • Subscribe

Trish Turner’s IRS crypto takeover signals policy shake-up

cryptoweekly by cryptoweekly
May 6, 2025
in regulation
0
Trish Turner’s IRS crypto takeover signals policy shake-up

Trish Turner has been officially appointed to lead the Internal Revenue Service’s (IRS) Digital Assets Office, succeeding Sulolit “Raj” Mukherjee and Seth Wilks, who recently departed the agency.

Turner has over 20 years of IRS experience, most recently serving as a Digital Assets Office (DAO) senior adviser.

Her selection is critical for the IRS as it ramps up its cryptocurrency tax enforcement and compliance efforts. Under Turner’s direction, the IRS is expected to develop and enforce policies to educate taxpayers on their digital asset obligations and enhance reporting responsibilities.

Trump’s crypto stance is influencing the IRS’s strategy and policies

The leadership shakeup is part of broader changes to U.S. crypto regulation, as the current administration is signaling a more friendly attitude to crypto, as well as the disbanding of some enforcement groups and a review of regulatory actions.

Mukherjee and Wilks, who both served for just over a year, previously held key roles within the IRS’s digital assets division—Mukherjee as Executive Director of Compliance and Implementation and Wilks as Executive Director of Digital Asset Strategy and Development.

Wilks officially announced his exit on LinkedIn, while Mukherjee confirmed to Bloomberg Tax that he would also be leaving.

Following their resignations, Turner was appointed to lead the IRS digital assets unit at a critical moment in the political landscape. The second Trump administration, which took office in early 2025, has adopted a markedly pro-crypto stance in contrast to the more cautious approach under President Biden.

Trump has fueled speculation of sweeping regulation, starting with a January promise to assemble a cryptocurrency task force to develop new “reasonable” regulations and to put the U.S. at the forefront of crypto globally.

Last month, he signed a resolution to eliminate a controversial crypto tax rule finalized late in the Biden administration.

Therefore, the administration’s pro-crypto stance may create a more encouraging atmosphere, which could lead to changes in IRS regulations to strike a balance between enforcement and the expansion of the crypto sector. This could also affect the agency’s strategy, including possible adjustments to reporting and enforcement guidelines.

Trump extends offer of deferred resignations to federal employees through DOGE

Seth Wilks and Raj Mukherjee, two key IRS directors involved in cryptocurrency initiatives, were let go on Friday, May 2, after accepting deferred resignation offers from the Department of Government Efficiency.

According to two sources familiar with the matter, Wilks and Mukherjee—both of whom joined the IRS from the cryptocurrency industry—were placed on paid administrative leave as of that afternoon. They also noted that, while the resignation would take effect soon, the two directors would technically remain with the IRS for the next few months.

This all began when the administration of President Donald Trump extended an offer of deferred resignations to a broad range of federal employees through DOGE earlier this year. It is worth noting that although the two officials had agreed to voluntary buyouts, the two individuals pointed out that these deferred resignations occurred before anticipated IRS staff reductions.

Furthermore, more than 20,000 IRS employees who enrolled in the deferred resignation program last month were placed on administrative leave through September.

Wilks and Mukherjee were instrumental in the IRS’s efforts, particularly after joining the IRS Digital Asset Initiative in February 2024. Their mission was to help the agency develop a more effective strategy for taxing cryptocurrency. This included leading efforts to establish crypto reporting, compliance, and enforcement programs while collaborating with the industry.

Additionally, to help Americans file taxes related to digital asset transactions, they worked on an updated 1099-DA tax form distributed last summer. The two partially managed the agency’s efforts to create tax regulations for the cryptocurrency sector.

Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now

Previous Post

Citi and SDX partner to tokenize traditional private markets

Next Post

Binance founder CZ says Bitcoin could hit $500K–$1M this cycle

Next Post

Binance founder CZ says Bitcoin could hit $500K–$1M this cycle

Latest News

Archetyp dark web market shut down, but ecosystem adapts: TRM Labs

by cryptoweekly
June 18, 2025
0

...

Washington’s second-biggest city, Spokane, bans crypto ATMs

by cryptoweekly
June 18, 2025
0

...

Spanish bank BBVA suggests clients make 7% crypto allocation

by cryptoweekly
June 18, 2025
0

...

Bitcoin and HYPE could get $844M total windfall from 4 public US firms

by cryptoweekly
June 18, 2025
0

...

Bitcoin downside risk lingers, upside hinges on holding above $102K

by cryptoweekly
June 18, 2025
0

...

Meta Pool hit with $27M exploit, but attacker flees with only $132K

by cryptoweekly
June 18, 2025
0

...

JPMorgan, SEC meet to discuss capital markets moving onchain

by cryptoweekly
June 18, 2025
0

...

SEC opens Franklin Templeton XRP, SOL ETF proposals to comments

by cryptoweekly
June 17, 2025
0

...

US Senate passes GENIUS stablecoin bill in 68-30 vote

by cryptoweekly
June 17, 2025
0

...

25% Bitcoin price rally set to follow today’s correction if history repeats

by cryptoweekly
June 17, 2025
0

...

Got a Story tip? Email Contact@cryptoweeklymag.com

CMC Coin

A marketing-focused coin w/ a unique set of tokenomics & incredible use cases! The official coin of Crypto Weekly Mag!
Learn More

News

Recent Posts
  • Archetyp dark web market shut down, but ecosystem adapts: TRM Labs
  • Washington’s second-biggest city, Spokane, bans crypto ATMs
  • Spanish bank BBVA suggests clients make 7% crypto allocation
  • Bitcoin and HYPE could get $844M total windfall from 4 public US firms
  • Bitcoin downside risk lingers, upside hinges on holding above $102K
  • Meta Pool hit with $27M exploit, but attacker flees with only $132K
  • JPMorgan, SEC meet to discuss capital markets moving onchain

Office

Crypto Weekly
71 – 75 Shelton Street
Covent Garden London, UK

Stay Connected

Facebook Twitter Instagram Telegram

© 2022 crypto weekly. All rights reserved

  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Learn
    • Crypto 101
    • Crypto Wallets
    • Crypo Investing
  • Regulation
  • Advertise with us
  • Subscribe
Translate »