It’s such a positive thing to hear government agencies endorse the concept of cryptocurrency. And then there’s this. Coming from an IRS agent in charge of New York’s criminal investigation unit, it’s hard to tell if it’s a compliment or a threat. If the agent is saying the IRS needs to stop treating crypto like it’s inherently morally suspect because of the privacy it offers, or that the IRS needs to offer much clearer, less onerous rules, then we agree. If he is saying the IRS shouldn’t treat crypto simultaneously like income when used for payments and an investment (with all the concomitant investment tax liabilities) when simply received for payment, we are supportive. But if “embracing crypto” and partnering with the industry means undermining privacy, requiring backdoor decryption or any other kind of intrusion, then that’s a horse of a different color.