like President-elect Donald Trump Preparing to take office on January 20, 2025, the cryptocurrency industry is optimistic about a new regulatory era.
The Blockchain Association, a non-profit organization focused on encouraging innovation and fostering a supportive policy environment for digital assets, has taken the initiative to communicate its priorities directly to the incoming administration and Congress.
Steps to support crypto assets in Trump’s first 100 days
In a letter The organization, coined by Christine Smith, CEO of the Blockchain Association, expressed hope for a friendlier regulatory landscape under Trump’s leadership.
Smith noted that over the years, American cryptocurrency innovators have faced significant challenges due to a “hostile regulatory environment,” which has sometimes pushed them to operate outside the country.
The CEO stressed that Donald Trump’s presidency has the potential to change this course and restore the United States’ position as a global leader in technological innovation, with Digital asset ecosystem At the heart of this growth.
The Blockchain Association has identified several critical steps that can be taken within the first 100 days of Trump’s term to support the domestic digital asset economy.
First and foremost, a comprehensive regulatory framework for cryptocurrencies must be established. Smith calls for a bipartisan approach to legislation surrounding market structure and stablecoins, encouraging innovation and ensuring consumer protections.
Another pressing issue highlighted in the letter is the need to end “bank unbundling of crypto companies.” Smith claims businesses and users have been “unfairly” denied access to basic banking services, which are “vital” to operational functions such as paying employee salaries and taxes.
Changes in Treasury and IRS leadership
The message also calls for Appointing and abolishing a new head of the Securities and Exchange Commission (SEC). SAB 121, the agency’s accounting guidelines which were deemed punitive towards the cryptocurrency sector.
Smith sees new leadership at the SEC as critical to creating a “fairer and more transparent” regulatory framework that moves away from the regulation-by-execution approach that has characterized the past four years.
Additionally, the Blockchain Association is urging the appointment of new leadership within the Treasury Department and the Internal Revenue Service (IRS). Smith claims that current tax treatment of digital assets has been “inconsistent,” and that proposed regulations, such as the broker rule, could push promising companies out of the US.
Finally, the organization advocates the development of cryptocurrencies Advisory Board Which would work in cooperation with Congress and federal regulatory agencies. Such public-private partnerships are seen as essential to crafting “smart regulatory constraints” that protect consumers while supporting industry growth.
In closing, Smith reaffirmed the commitment of the Blockchain Association and its nearly 100 member organizations to working alongside the Trump administration. By implementing these recommendations, it believes the United States can regain its position as the cryptocurrency capital of the world, paving the way for a new era of financial and technological progress.
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