IRS hires former Binance.US exec to beef up crypto expertise

The IRS is hiring two former digital-asset executives, including one who worked at Binance's U.S. unit, to help beef up its crypto expertise. 

Sulolit "Raj" Mukherjee, who worked as the global head of tax at the blockchain software company ConsenSys and previously at digital-asset exchange Binance.US, will join the Internal Revenue Service as an advisor. Seth Wilks, who until recently was the vice president of government relations and success at the crypto tax software firm TaxBit, will also join in a similar role. Both will help lead the agency's crypto compliance and enforcement efforts, the IRS said.

The tax authority is drafting final regulations that would require crypto brokers, including exchanges, to report detailed information on their clients' transactions to the U.S. government. At the same time, the IRS unit that investigates financial crimes is dealing with a surge in cases related to crypto tax evasion. 

Al Drago/Bloomberg

"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," IRS Commissioner Danny Werfel said in a Tuesday statement announcing the hirings.