According to Crypto Rover, there is a rumor that President Trump may unveil a new External Revenue Service, potentially abolishing the IRS, which could impact cryptocurrency regulation. However, no official sources have confirmed this, making it crucial for traders to proceed with caution.

According to The Kobeissi Letter, the establishment of the 'External Revenue Service' and new auto tariffs affecting over $275 billion of auto imports annually may influence cryptocurrency markets as traders anticipate potential economic shifts and seek alternative investment vehicles.

According to The Kobeissi Letter, the establishment of the 'External Revenue Service' by the Trump Administration will introduce a new tax regime, with auto tariffs alone impacting over $275 billion of auto imports annually. The administration aims to generate $600 billion in tariff revenue per year, indicating significant implications for international trade and potentially influencing currency markets as tariffs may affect import costs and trade balances.

According to @Kalshi, there is now a 73% chance that President Trump will establish the 'External Revenue Service.' Market odds increased following Commerce Secretary Lutnick's announcement that the April 2nd tariffs will initiate the External Revenue Service. This development is crucial for traders as retaliatory tariffs could impact market conditions in 8 days. Source: @KobeissiLetter.