Trump replaces IRS commissioner with pro-crypto Treasury Secretary Scott Bessent

President Donald Trump removed Billy Long from his position as commissioner of the Internal Revenue Service (IRS) less than two months after his confirmation, marking a swift and unexpected leadership change. Long, a former U.S. representative from Missouri, had been confirmed by the Senate on June 12, 2025, and was set to serve through November 2027. His short tenure ended as Trump appointed Scott Bessent, the Treasury Secretary, as acting IRS commissioner. A White House official confirmed the change, while the Treasury Department declined to comment [1].

Bessent, known for his pro-crypto stance, has long been an advocate for digital assets within the Treasury Department. His appointment is seen as a strategic shift in the IRS leadership, reflecting broader priorities in the administration’s economic and regulatory agenda. During his confirmation as Treasury Secretary, Bessent emphasized the importance of adapting tax policies to the evolving landscape of cryptocurrencies [3]. The move signals a potential shift in IRS regulatory approach, with many industry observers watching closely for developments on crypto taxation and compliance.

Long’s removal follows a period of internal and external scrutiny. During his brief time as commissioner, he had expressed intentions to reform the IRS into a more taxpayer-friendly agency. He had previously supported legislation to replace the IRS with a national sales tax system [2]. However, his tenure was marked by uncertainty, with some suggesting the IRS was being restructured as part of political realignment.

Bessent will serve as acting commissioner until a permanent successor is confirmed by the Senate. The White House clarified that Bessent will not be a candidate for the Federal Reserve chair, allowing him to focus on IRS responsibilities. This is the fifth leadership change at the IRS since the beginning of 2025, following the tenure of Michael Faulkender, the former acting commissioner and deputy Treasury secretary [5].

The market response to the leadership change has been muted. Major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) have not shown significant price movements, and analysts suggest it may take time for policy changes to manifest in market behavior. While Bessent’s pro-crypto background raises expectations for more favorable regulatory approaches, no concrete strategies have been outlined yet. Industry experts are waiting for more details on how the IRS might handle digital assets, including taxation, reporting, and enforcement [3].

The decision underscores the administration’s focus on reshaping federal tax administration, particularly in light of the growing role of digital assets in the economy. As Bessent assumes his new role, the IRS faces ongoing challenges related to modernization and operational efficiency. The leadership change could influence future IRS strategies, particularly in how digital assets are regulated and taxed [4].

Sources:

[1] CNBC, [https://www.cnbc.com/2025/08/08/trump-fires-irs-commissioner-bessent-named-acting-head.html](https://www.cnbc.com/2025/08/08/trump-fires-irs-commissioner-bessent-named-acting-head.html)

[2] Fox Business, [https://www.foxbusiness.com/politics/trump-removing-irs-commissioner-billy-long-serving-just-two-months-role](https://www.foxbusiness.com/politics/trump-removing-irs-commissioner-billy-long-serving-just-two-months-role)

[3] CoinGape, [https://coingape.com/donald-trump-removes-irs-commissioner-pro-crypto-scott-bessent-acting-head/](https://coingape.com/donald-trump-removes-irs-commissioner-pro-crypto-scott-bessent-acting-head/)

[4] Law360, [https://www.law360.com/articles/2375234/trump-ousts-irs-commissioner-weeks-after-confirmation](https://www.law360.com/articles/2375234/trump-ousts-irs-commissioner-weeks-after-confirmation)

[5] Accounting Today, [https://www.accountingtoday.com/news/irs-commissioner-billy-long-ousted-by-trump](https://www.accountingtoday.com/news/irs-commissioner-billy-long-ousted-by-trump)