The IRS, along with many other regulators, has been quite active in the cryptographic world in recent years. On Friday, two directors left.
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The narrative
More than 20,000 IRS employees accepted deferred renunciation offers made by the Donald Trump administration, including two directors responsible for supervising the regulation of digital assets.
Why does it matter
Raj Mukherjee and Seth Wilks continued with an administrative license paid on Saturday, although the people familiar with the situation told Coindesk that their departures should not indicate any change in the IRS approach to the cryptographic rules.
Break down
Wilks, the Executive Director of Strategy and Development of Digital Assets of the IRS, and Mukherjee, the Executive Director of the Office of Digital Assets, accepted offers of deferred resignation and left the IRS on Friday, two individuals to COINDESK.
They joined thousands of other IRS employees who accepted the offer, which put them on administrative license paid until September.
Both sources of Coindesk said Wilks and Mukherjee left ahead of the expected generalized layoffs in the IRS.
Read more here.
- Inside Movement’s Token-Dump Scandal: Secret Contracts, Shadow Advisers and Hidden Middlemen: Sam Kessler de Coindesk published a successful investigation into movement laboratories, his recent agreements with a market manufacturer and how his current internal research on whether he had fooled to sign an agreement that gave that market manufacturer control over a significant number of his tokens emerged.
- Fed binds to the Occ, Fdic to withdraw cryptographic warnings for US banks: The Federal Reserve withdrew its cryptographic orientation advising banks that obtain preprowses before entering cryptographic activity (and other details).
- Trump Coin jumps 70% in the president’s dinner event for the main tokens headlines: The 220 people who have the largest amount of Trump tokens will be able to attend a dinner with Donald Trump in May. The news caused an increase in the price of the file.
- Trump’s Truth Social Mulls by launching token for subscriptions on the last Push Crypto: Truth Social, the Social Network Company owned by Donald Trump’s media and technology group, said in a shareholders letter that he was exploring the launch of a public services token.
- Poilievre friendly for Bitcoin loses the seat since Carney liberals win 2025 elections: Canada voted, and the Liberal Party is forming a minority government with Mark Carney remaining as a prime minister. The leader of the conservative party Pierre Poilievre lost his seat.
- The Unicoin CEO rejects the SEC attempt to solve the execution investigation: Unicoin rejected a liquidation negotiation meeting with the United States stock and values commission, said CEO Alex Konanykhin to shareholders in a letter.
- The Senator and former CEO of Bridgewater, McCormick, invests more in Bitcoin as a bill in works: The Republican of Pennsylvania Dave McCormick, who won his seat in last year’s elections and is now in the Senate Banking Committee, revealed to invest up to $ 450,000 in the background (ETF) quoted by Bitcoin Exchange (ETF) of Bitwoin.
- The new head of the SEC, ATKINS, says that the agency does not have to wait to impose an encryption policy: Paul Atkins, who swore as president of the SEC last week, said the agency was considering the merchants of special use corridors and custody policies at the last round table cryptography organized by the agency, and that it may not have to wait for new laws to act.
- The FBI says that Americans lost $ 9.3b due to cryptographic scams in 2024: The last report of the FBI Internet Crimes Complaints Center said Americans lost $ 9.3 billion due to cryptomy last year, an increase of 66% year after year. Total losses added up to $ 16.6 billion, and the general increase of the year was 33%.
The prosecutors and lawyers of the case of the Department of Justice against the developers of Samourai Wallet presented a joint memo that asked the federal judge to supervise the case to stop him for a few weeks, while the Department of Justice considers a request for the defense to completely leave it.
A lawyer from Roman Storm, asked if the Tornado Cash developer team had made a similar request, declined to comment.
This same week, a federal judge ruled that the United States Department of the United States cannot sanction the tornado cash again, saying that the foreign asset control office “did not suggest that they will not punish the tornado cash, and that they can try to accurately recognize it precisely to it [designation] in the future.'”
Last month, Leah Moushey, a lawyer from Miller and Chevalier, told Coindesk that the judge can decide to reject the argument of here that the case was debatable due to previous cases in which the agencies tried to maintain the ability to redirect someone after a judicial case was resolved.
The de facto judge seemed to buy that opinion in his ruling.
Tuesday
- 14:00 UTC (10:00 am ET) The Chamber Financial Services Committee held a subcommittee hearing entitled “Hearing entitled: Regulatory examination: The price of American prosperity”.
Thursday
- 19:00 UTC (3:00 pm et) Avraham Eisenberg, who was arrested and tried for his exploit of $ 110 million mango markets, was sentenced to just over four years in prison after declaring himself guilty of possession of child sexual abuse material. During the sentence hearing, the federal judge who supervises the case said he was open to a new trial on charges related to mango markets.
- (The New York Times) The Times fell at the entrance of Donald Trump and deepening the connections with the cryptographic industry.
- (The Washington Post) The publication published a list of the main donors of the Trump opening fund. Included in this list: Ripple Labs ($ 4.9 million donated), Robinhood Markets ($ 2 million), Fred Ehrsam, Circle, Coinbase, Crypto.com, Galaxy Digital, Ondo Finance, Kraken and Solana Labs ($ 1 million each). Since then, several of these companies have presented themselves to the public, they saw the SEC leave the demands and investigations against them or announce associations with companies affiliated with Trump.
- (Political) It is likely that the Senate will vote on Stablecoin’s legislation before the end of May, said the leader of the majority, John Thune, at a lunch of the Republican conference.
- (The New York Times) The Times also published a deep immersion in Tether and his own deep ties with Washington, DC
- (Reuters) North Korea employees established corporate entities in the US to attack cryptographic companies.
- (The New York Times) This is a very strange story of some people who stole a little cryptography. Just read it.
- (Political) This is a fascinating reading of Victoria Guida de Politico about the experience and opinions of the Canadian Prime Minister Mark Carney.
- (404 media) The researchers who claim to be part of the University of Zurich established a “large -scale experiment in which Bots propelled by AI in a popular debate subnet” secretly deployed to see if IA would change people’s minds. These bots used false background stories and made more than 1,700 comments. Reddit said he was issuing “formal legal demands” to researchers in response.
- (The New York Times) Roger See, that is, “Bitcoin Jesus,” hired Roger Stone to try to press for the legal changes that could help see, who is accused of tax positions.
- (Semafor) Several prominent risk capitalists and technology executives, including executives of the cryptographic company, have private group chats that Semafor reports show a growing political division.
- (Wired) Spain and Portugal suffered a mass blackout earlier this week. Wired cavó in some of the technical problems at stake.
If you have thoughts or questions about what I should discuss next week or any other comments you want to share, do not hesitate to send me an email to [email protected] or find myself at bluesky @nikhileshde.bsky.social.
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Look, next week!
