New IRS Guidance Spares Strategy From 15% Tax on Unrealized Bitcoin Gains

The post Democrats in Congress Call Foul on Status of Trump’s Crypto Czar David Sacks appeared on BitcoinEthereumNews.com. President Donald Trump’s top adviser on crypto, David Sacks, is working under a “special government employee” status that’s meant to be for officials serviing an important but temporary duty with the federal government, and Senator Elizabeth Warren penned a letter with other Democrats in Congress asking him whether he’s overstepped that window. Such an employee isn’t allowed to serve more than 130 days in a year, according to the law, and the Wednesday letter to Sacks asks him to put a number on the days the prominent venture capitalist has worked for Trump in the role as crypto and artificial intelligence czar. Under the rules, any day in which he’s done work counts against that 130, though in some agencies, the limit has commonly been governed by a “good faith” estimate of how long the official expects to serve. “If you have worked every business day, your 130th day was July 25, 2025,” according to the letter signed by Warren and several other members of the Senate and House of Representatives, including Bernie Sanders. The lawmakers called their review of this timeline since the January 20 start of the administration an “investigation.” “If you have indeed passed the 130th day mark, you are undermining the careful balance Congress struck in creating the SGE designation. It is only because of your designation as an SGE that you have been able to continue working for and being paid by Craft Ventures during your time in government,” read the letter. Trump has used the temporary employment status in a high-profile fashion, also employing Tesla CEO Elon Musk in that capacity. The personnel tool is designed to be used to bring expertise into government without having to clear some of the bureaucratic hoops of typical hiring. Earlier this year, other Democrats in Congress pushed…

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