The U.S. Internal Revenue Service (IRS) is undergoing significant changes as Trish Turner, who led its cryptocurrency unit, steps down to join the private sector. This move coincides with the implementation of new crypto tax regulations, requiring increased reporting from investors and brokers. The IRS has yet to announce a replacement for Turner, creating a leadership gap in their cryptocurrency initiatives. 2023’s focus on cryptocurrency regulation under the expanded oversight of the IRS, led by new forms like the 1099-DA, has sparked both anticipation and concern about its impact on compliance. While these regulations aim to streamline disclosures, they also reveal a shrinking workforce within the IRS, which faces challenges with staffing reductions that have impacted their ability to effectively enforce tax compliance. Turner’s departure presents an opportunity for clarity in cryptocurrency taxation, but the future of the regulatory landscape remains uncertain.