Binance Alumni Depart IRS Amid Crypto Tax Policy Overhaul
The U.S. Internal Revenue Service (IRS) is facing significant leadership changes within its Crypto Asset Initiative as two high-profile executives, Seth Wilks and Raj Mukherjee, have resigned. Both individuals joined the IRS in February 2024, bringing with them extensive experience from their previous roles at TaxBit and ConsenSys/BinanceUS, respectively. Their departures come at a critical juncture as the IRS continues to refine its approach to cryptocurrency tax reporting, including the recent introduction of the 1099-DA form. This development raises questions about the future direction of crypto tax policies and the IRS’s ability to retain top talent from the private sector. The resignations highlight the challenges faced by regulatory bodies in adapting to the rapidly evolving cryptocurrency landscape, particularly as they compete with the private sector for specialized expertise. With Binance being one of the world’s largest cryptocurrency exchanges, the departure of a former BinanceUS executive is particularly noteworthy and may signal broader shifts in how regulatory agencies approach digital asset taxation. As of May 2025, the crypto community is closely watching how these changes will impact upcoming tax reporting requirements and enforcement measures.
IRS Faces Major Resignations and Crypto Tax Policy Shifts
The U.S. Internal Revenue Service (IRS) is grappling with significant departures as two key executives, Seth Wilks and Raj Mukherjee, exit the agency. Both joined the IRS Crypto Asset Initiative in February 2024, bringing expertise from their prior roles at TaxBit and ConsenSys/BinanceUS, respectively. Their resignations come amid ongoing efforts to refine cryptocurrency tax reporting, including the rollout of the 1099-DA form last summer.
Wilks and Mukherjee were instrumental in shaping tax compliance frameworks for digital assets, coordinating with industry players to streamline reporting and audit processes. Their departure raises questions about the continuity of the IRS’s crypto oversight as the sector navigates evolving regulatory demands.
IRS Crypto Heads Resign in DOGE-Led Exit Wave
The Internal Revenue Service faces a significant setback as two key cryptocurrency experts, Seth Wilks and Raj Mukherjee, resign from their roles. Both were instrumental in leading the IRS’s Digital Asset Initiative, a program designed to enhance the agency’s approach to crypto taxation.
Wilks and Mukherjee’s departures align with a broader federal workforce reduction effort under the Department of Government Efficiency (DOGE). The initiative, part of the Trump administration’s legacy, offered deferred resignation packages to thousands of employees.
Their exits leave a void in the IRS’s crypto expertise. Wilks previously served as Vice President at TaxBit, while Mukherjee held senior tax positions at ConsenSys and Binance.US—experience critical to navigating the complexities of digital asset regulation.
