The IRS, along with many other regulators, has been pretty active in the cryptover in recent years. Friday left two directors.

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The story

Over 20,000 IRS employees accepted deferred resignation made by the Donald Trump administration, including two directors who are tasked with overseeing digital assets.

Why it matters

Raj Mukherjee and Seth Wilks went on paid administrative leave on Saturday, although individuals who were familiar with the situation, Coindesk told that their departure should not indicate any change in the IRS ‘approach to crypto rules.

Breaks down it

Wilks, IRS CEO of Digital Asset Strategy and Development, and Mukherjee, CEO of Office Digital Assets, accepted postponed resignation and left the IRS on Friday, told two people to Coindesk.

They joined thousands of other IRS employees who accepted the offer, which puts them on paid administrative leave until September.

Both Coindesk’s sources said that Wilks and Mukherjee left in front of expected widespread redundancies on the IRS.

Read more here.

• Inside Movement’s Token-Dump-Scandal: Secret Contracts, Shade Advisers and Hidden Middle Ages: Coindesk’s Sam Kessler published a blockbuster study of movement laboratories, its recent agreements with a market manufacturer and how its current internal investigation into whether it was mislead to sign an agreement that gave this market manufacturer control over a significant number of its tokens.
• Bold joins OCC, FDIC to pull Crypto -Warnings to US Banks: The Federal Reserve withdrew his crypto guidance, which advised the banks to get advance approvals before entering crypto activity (and other details).
• Trump Coin jumps 70% on the president’s dinner event for the top token holders: The 220 people holding the most Trump -tookens will be able to attend a dinner with Donald Trump in May. The news triggered an increase in token’s price.
• Trump’s truth Social Mulls launches token to subscriptions in recent crypto -push: Truth Social, the social media company owned by Donald Trump’s Trump Media & Technology Group, said in a shareholder letter that it explored the launch of a tool token.
• Bitcoin-friendly poilievre loses the seat as Carney’s Liberals win elections in 2025: Canada voted, and the liberal party forms a minority government with Mark Carney, who is staying as prime minister. Conservative party leader Pierre Poilievre lost his seat.
• Unicoin CEO rejects SEC’s attempt to settle enforcement probe: Unicoin rejected a conciliation negotiation meeting with the US Securities and Exchange Commission, to CEO Alex Konanykhin told the shareholders in a letter.
• Senator and Ex-Bridgewater CEO McCormick invest more in Bitcoin as Bill in Works: Pennsylvania Republican Dave McCormick, who won his seat in last year’s elections and is now sitting in the Senate’s banking committee, revealed investments up to $ 450,000 in Bitwise’s Bitcoin Exchange-Traded Fund (ETF).
• New SEC manager Atkins says the agency does not have to wait to introduce cryptopolitics: Paul Atkins, who was sworn in as SEC chairman last week, said the agency was considering brokers dealers and custody policy in the latest Crypto Roundtable, the host of the Agency and that it may not have to wait for new laws to act.
• The FBI says Americans lost $ 9.3b to crypto fraud in 2024: The FBI’s latest report center report on the Internet Crime Center said Americans lost $ 9.3 billion to crypto crimes last year, a 66% year-over year-year increase. The total losses added up to $ 16.6 billion, and the total increase in the year over year was 33%.

Prosecutors and defense attorneys in the Department of Justice’s case against developers of Samorai -Tevebog filed a joint memo that asked the federal judge who monitored the case to start it for a few weeks, while DOJ considers a request from the defense to drop it completely.

A lawyer for novel Storm asked if Tornado Cash Developer’s Team had made a similar request refused to comment.

The same week, a federal judge gave up that the US Ministry of Finance cannot sanction Tornado cash again and said that the office of foreign asset control “did not suggest that they will not sanction Tornado cash again and they can try to ‘reinstate exactly the same [designation] In the future. ” ”

Last month, Leah Moushey, a lawyer at Miller & Chevalier, told Coindesk that the judge may decide to reject Ofac’s argument that the case was bad due to previous cases where agencies tried to retain the ability to redesign someone after a trial was resolved.

The judge actually seemed to buy into this view in his decision.

Tuesday

• 14:00 UTC (10:00 A) House Financial Services Committee held a sub -committee hearing with the title “Consultation entitled: Regulatory Overreach: The Price Mark on American Prosperity.”

Thursday

• 19:00 UTC (15:00 A) Avraham Eisenberg, who was arrested and tried for his $ 110 million utilization of mango markets, was sentenced to just over four years in prison after pleading guilty to the possession of material for sexual abuse of children. During the penalty, the federal judge who monitored the case said he was open to an attempted mango market-related charges.

• (The New York Times) The Times buried Donald Trump’s entry and elaborates on connections in the crypto industry.
• (The Washington Post) The post published a list of the best donors to Trump’s inauguration fund. Included on 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). Several of these companies have since submitted to be published, seen SEC Drop Legal cases and investigations against them or advertised partnerships with Trump-affiliated companies.
• (Politico) The Senate is likely to vote on stablecoin legislation by the end of May, majority leader John Thune said at a Republican conference lunch.
• (The New York Times) The Times also published a deep dive in Tether and its own elaborate ties to Washington, DC
• (Reuters) North Korean employees set up business units in the United States to target cryptic companies.
• (The New York Times) This is a very bonkers story about some people who stole some crypto. Just read it.
• (Politico) This is a fascinating reading of Politico’s Victoria Guida about Canadian Prime Minister Mark Carney’s experience and views.
• (404 media) Researchers who claimed to be part of the University of Zurich created a “large-scale experiment in which the secretly inserted AI-run bots in a popular debate subreddit” to see if AI would change people’s minds. These bots used false back stories and made over 1,700 comments. Reddit said the “formal legal requirements” to the researchers in response.
• (The New York Times) Roger ver, ie “Bitcoin Jesus,” hired Roger Stone to try to lobby for legal changes that may help ver accused of tax fees.
• (Semaphor) A number of prominent venture capitalists and tech leaders, including Crypto Company leaders, have private group chat, which semafor reports show a growing political gap.
• (Cable) Spain and Portugal suffered a massive blackout earlier this week. Wired dug into some of the technical problems playing.

If you have thoughts or questions about what to discuss next week or any other feedback you would like to share, feel free to e -mail me at [email protected] or find me at bluesky @nikhileshde.bsky.social.

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See you next week!