The Blockchain Association has submitted a comprehensive letter to President-elect Donald Trump and the incoming Congress, outlining the top priorities of the administration for advancing the cryptocurrency industry during its first 100 days in office.
The association, which represents almost 100 member organizations in the digital asset sector, emphasizes the need for significant regulatory and policy changes to position the United States as a global leader in blockchain technology.
The letter highlights the following key priorities:
1. Establishing a Comprehensive Crypto Regulatory Framework: The Association advocates for clear and consistent regulations that will encourage innovation and growth in the digital asset space.
2. Ending Discriminatory Banking Practices: The letter calls for an end to discriminatory practices by banks, emphasizing the importance of fair access to financial services for blockchain firms.
3. 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 impeding the industry’s growth.
4. Leadership Changes at the Treasury and IRS: The Blockchain Association urges the appointment of leaders who are committed to fostering innovation within the Treasury Department and the Internal Revenue Service (IRS).
5. Creation of a Crypto Advisory Committee: The proposal includes the establishment of an advisory council that will work collaboratively with Congress and federal regulators to guide policymaking efforts.
In related news, Kristin Smith, CEO of the Blockchain Association, expressed optimism about the potential of the new administration and Congress to support crypto-friendly policies. He stated, “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.”
*This is not investment advice.
