IRS recruits Binance.US executives to oversee crypto regulations – Crypto Times
The IRS hired two former digital asset executives to help oversee the organization’s crypto enforcement efforts, including one who worked at Binance’s US unit.
Sulolit “Raj” Mukherjee, formerly the global head of tax at ConsenSys, a blockchain software company, and previously associated with digital-asset exchange Binance.US, is set to assume the role of adviser at the Internal Revenue Service (IRS).
Seth Wilks signed on with the IRS from cryptocurrency tax software supplier TaxBit, which he led as vice president for government relations.
The IRS Commissioner, Danny Werfel, noted, “Pulling in expertise from the private sector to work with the IRS team is critical to successfully building the agency’s efforts involving digital assets and helping us do it in a way that works well for everyone.”
This signals the IRS is bolstering its capabilities to address non-compliance and illicit activity that persists in the pseudonymous world of crypto transactions.
The hires come as the IRS sees surging crypto tax evasion and finalizes rules mandating detailed transaction reporting from crypto brokers like exchanges. Mukherjee and Wilks’ industry background will inform strategies to ensure compliance while supporting innovation.
Also read: IRS Now Requires Data For Crypto Transactions of Above $10k
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