Trish Turner to Lead US IRS Crypto Unit

The US Internal Revenue Service (IRS) is undergoing a significant leadership shift in its cryptocurrency division as veteran IRS official Trish Turner steps in to take over the agency's digital asset efforts. This transition comes in after the exit of two prominent crypto leads.

The US Internal Revenue Service (IRS) is undergoing a significant leadership shift in its cryptocurrency division, with veteran IRS official Trish Turner stepping in to take over the agency’s digital asset efforts following the exit of two prominent crypto leads, a source familiar with the matter told Blockworks on Wednesday.

Turner will assume the role of a lead after Sulolit “Raj” Mukherjee, a former executive at Binance, and Seth Wilks, who helmed crypto strategy and development, announced their exits from the agency. Both had joined the IRS from the private sector in 2022 and played pivotal roles in the agency’s push to amplify cryptocurrency oversight.

Mukherjee, who had experience in Southeast Asia and held leadership positions at Binance and AAdvantage, served as Executive Director of Compliance and Implementation at the IRS. He was instrumental in overseeing the agency’s efforts to collect, process and implement new cryptocurrency tax reporting rules.

Meanwhile, Wilks, who previously served as Head of Strategy at Tagomi and State Street Global Advisors, spearheaded strategic development within the Office of Digital Assets. He was a key figure in devising long-term plans for the agency’s cryptocurrency initiative. Both had been with the agency for just over a year.

Turner, a two-decade IRS veteran, most recently served as a senior adviser in the same office and is expected to provide continuity as the agency continues to improve its approach to crypto taxation and enforcement.

The agency has been making significant strides in ramping up its cryptocurrency efforts. In addition to increasing audits and criminal investigations, the IRS is also proposing broad reporting rules for crypto brokers.

One such rule, that has now been annulled, would have required decentralized platforms to collect and submit user transaction data—a demand critics say clashes with the very structure of decentralized finance.

In a notable political development, the House of Representatives recently voted to repeal an IRS rule that would have required certain cryptocurrency brokers to report transaction details to the tax agency.

The bill, which was backed by a bipartisan coalition and later signed into law by President Donald Trump, marks the first time a US president has enacted cryptocurrency-specific legislation.

The new law will exempt DeFi platforms from some of the IRS’s more stringent data reporting requirements. It also cancels a provision in the 2017 Tax Cuts and Jobs Act that would have imposed a 15% tax on capital gains realized by taxpayers with an adjusted gross income of more than $1 million.

This shift comes amid other pro-crypto changes in federal policy. A second Trump administration is expected to bring a more favorable regulatory environment for the crypto industry.

Recently, the Securities and Exchange Commission(SEC) closed several probes into crypto firms. According to a report by the Wall Street Journal, the SEC has recently ended its investigations into several cryptocurrency companies, including Web3 gaming startup Yuga Labs, cryptocurrency exchange Kraken, and investing platform Robinhood.

The report adds that the agency is also winding down its inquiry into crypto startup Paxos, which began in 2021.

The report further states that the probes were part of a broader scrutiny of the crypto industry by the SEC in recent years. A source familiar with the matter told the outlet that the administrative probes are now closed, and there are no pending recommendations for enforcement action.

The administration has reportedly begun getting feedback from the industry on which regulations should be scaled back. A bipartisan group of senators also introduced legislation in December to impose a two-year moratorium on new SEC regulations on digital assets.

Meanwhile, a new report by the Treasury Inspector General for Tax Administration (TIGTA) has revealed that over 23,000 Internal Revenue Service (IRS) employees have signaled interest in departing the agency.

According to the report, which was published on Wednesday, the employees who expressed interest in leaving are eligible to participate in the agency’s renewed deferred resignation program. The program allows employees to choose a departure date up to 12 months in advance and will continue until December 31, 2024.