The United States Internal Revenue Service (IRS) is undergoing a significant leadership shift following the resignations of Seth Wilks and Raj Mukherjee. These experienced professionals played crucial roles in developing tax regulations for cryptocurrency holdings, leveraging expertise from companies like TaxBit, ConsenSys, and BinanceUS. 2024 saw them join the Crypto Asset Initiative where they focused on constructing frameworks for reporting and compliance around cryptocurrencies, including implementing the 1099-DA form to streamline digital asset transactions. Their departure coincides with a broader federal initiative focusing on downsizing IRS staff through voluntary resignations, aiming to improve efficiency in managing cryptocurrency assets. This restructuring comes alongside a shift towards re-evaluation of tax policy under the Biden administration, following a prior push for tighter regulation under the Trump Presidency which has now been reversed.