The Blockchain Association has submitted a detailed letter to President-elect Donald Trump and the incoming Congress outlining the administration’s top priorities for advancing the cryptocurrency industry in its first 100 days in office.
The association, which represents nearly 100 member organizations in the digital asset sector, says significant regulatory and policy changes are needed to position the U.S. as a global leader in blockchain technology.
The key priorities outlined in the letter are:
- Establishing a Comprehensive Crypto Regulatory Framework: The Association advocates for clear and consistent regulations to foster innovation and growth in the digital asset space.
- Stop Leveraging Crypto Companies: Calling for an end to discriminatory banking practices, the letter underscores the need for fair access to financial services for blockchain firms.
- Appointment of New SEC Leadership and Repeal of SAB 121: The group recommends appointing a new chair for the Securities and Exchange Commission and repealing Staff Accounting Bulletin (SAB) 121, which has been criticized for hindering the growth of the industry.
- Leadership Changes at the Treasury and IRS: The Blockchain Association is calling for the appointment of leaders committed to fostering innovation within the Treasury Department and the Internal Revenue Service (IRS).
- Creation of a Crypto Advisory Committee: The proposal includes the creation of an advisory council to work collaboratively with Congress and federal regulators to guide policymaking efforts.
Kristin Smith, CEO of the Blockchain Association, expressed optimism about the potential of the new administration and Congress to support crypto-friendly policies.
“President-elect Trump’s vision of making America the crypto capital of the world is a hope shared by the entire crypto industry and its founders, developers, and innovators. And with President-elect Trump in Washington and the most pro-crypto Congress in history, this could become a reality,” he said.
*This is not investment advice.