Donald Trump Replaces IRS Leader With Crypto-Focused Treasury Secretary

President Donald Trump has ousted IRS Commissioner Billy Long, paving the way for Treasury Secretary Scott Bessent to assume the role as acting commissioner. The move signals a strategic shift in the administration's financial policy, particularly in cryptocurrency regulation.

Bessent, a known advocate for digital assets, previously oversaw the Treasury's decision to scrap the controversial IRS DeFi crypto reporting rule. His interim leadership at the IRS reinforces the White House's pro-crypto stance, following Trump's earlier nullification of the same regulation.

The reshuffle comes as Long is reportedly being considered for an ambassadorial position. This transition occurs against the backdrop of increasing institutional recognition of cryptocurrencies as legitimate financial instruments.