DOGE-Backed Resignations Shake IRS Crypto Leadership

In a surprising turn of events, the IRS’s digital asset division faces leadership challenges as two key figures depart under unconventional circumstances involving Dogecoin. This development raises questions about the future of cryptocurrency regulation and the role of digital assets in government operations.

IRS Crypto Initiative Leaders Exit After Accepting DOGE-Backed Resignation Offers

The Internal Revenue Service faces a leadership vacuum in its digital asset division as two key figures depart under unusual circumstances. Seth Wilks and Raj Mukherjee, both recruited from prominent crypto firms, accepted deferred resignation packages tied to a Department of Government Efficiency initiative funded through Dogecoin transactions.

Their exits mark a significant setback for the IRS Digital Asset Initiative launched just months ago in February 2024. Wilks, formerly TaxBit’s vice president, and Mukherjee, ex-head of tax at ConsenSys and Binance.US, were instrumental in bridging the gap between regulators and the cryptocurrency industry.

The Trump administration’s controversial DOGE-funded resignation program has claimed multiple federal employees across agencies this year. Both directors remain technically employed through the transition period, drawing salaries while on administrative leave—a arrangement that’s drawing scrutiny from congressional oversight committees.

IRS Crypto Policy Leaders Step Down After Accepting "DOGE Exit Deals"

Two pivotal figures in the U.S. Internal Revenue Service’s cryptocurrency policy division, Seth Wilks and Raj Mukherjee, have resigned following their acceptance of government-proposed "DOGE Deferred Exit Deals." Both officials joined the IRS in 2024 from the private crypto sector, where they played instrumental roles in crafting the agency’s digital asset tax framework, including the development of the new 1099-DA tax form.

Their departures signal a transitional phase for the IRS as it navigates the complexities of cryptocurrency taxation. The move comes amid heightened scrutiny of crypto tax compliance and evolving regulatory landscapes.

Dogecoin Shows Bullish Momentum as Analysts Target Higher Levels

Dogecoin has demonstrated resilience, rebounding from $0.13009 to establish a firm footing above $0.17500. The formation of a bullish cup pattern on the 4-hour chart has caught the attention of analysts, signaling potential upward movement.

Whale activity has intensified, with major wallets accumulating 100 million Doge within a week. This accumulation suggests growing confidence among large holders, often a precursor to price appreciation.

Technical analysts identify $0.19270 as the immediate target, with some projecting a long-term potential of $0.704. The meme cryptocurrency’s recent performance marks a significant recovery from its April lows, when volatility drove prices down to $0.13009.