Blockchain Association Urges Trump Administration to Prioritize Crypto in First 100 Days

The Blockchain Association is calling on President-elect Donald Trump and Congress to make cryptocurrency a priority in the administration’s first 100 days, urging them to take specific actions to solidify the United States as a global leader in digital asset innovation.

In an open letter, the industry advocacy group outlined five key actions that it believes will address current regulatory challenges and support the growth of the U.S. crypto economy.

Blockchain Association Calls for Action

The Blockchain Association, a prominent U.S.-based lobbying group advocating for crypto-friendly regulations, highlighted the need for a comprehensive and forward-thinking approach to digital assets. The group has called for immediate steps to reform current policies and to create an environment where crypto businesses can thrive.

“We stand ready to work with you to ensure the United States can regain its position as the crypto capital of the world,” the Blockchain Association stated in its letter to President-elect Trump and the incoming Congress.

Five Key Priorities for the First 100 Days

The Blockchain Association emphasized five critical areas that need attention to foster innovation in the cryptocurrency sector:

1 Establish a Crypto Regulatory Framework

The association called for Congress to develop clear and comprehensive legislation that addresses cryptocurrency markets and stablecoins. A well-balanced regulatory framework would promote both consumer protection and innovation. Stablecoins, digital currencies tied to traditional assets like the U.S. dollar, have gained popularity for their stability and could play a significant role in the future of digital finance.

2 End the ‘Debanking’ of Crypto Companies

One of the key concerns raised was the increasing difficulty crypto businesses face in accessing traditional banking services. Without bank accounts, these companies struggle to manage payroll, taxes, and vendor payments, which severely disrupts their operations. The Blockchain Association advocates for removing barriers that prevent crypto businesses from accessing necessary banking infrastructure.

3 Reform the SEC and Reverse SAB 121

The group criticized the current leadership of the Securities and Exchange Commission (SEC), arguing that its approach has been hostile to crypto innovation. The Blockchain Association called for the appointment of a new SEC chair and the repeal of SAB 121, an accounting rule that imposes strict requirements on crypto-related businesses, making compliance costly and complicated.

4 Appoint New Leadership for the Treasury and IRS

With tax policies like the controversial Broker Rule under scrutiny, the Blockchain Association stressed the need for leadership at the Treasury Department and the IRS that supports a fair and privacy-respecting tax environment for digital assets. The group warned that overly restrictive policies could push businesses overseas, stifling growth in the U.S.

5 Create a Crypto Advisory Council

To ensure collaboration between the crypto industry, Congress, and federal regulators, the Blockchain Association proposed the creation of a Crypto Advisory Council. Such a council would facilitate public-private partnerships aimed at creating balanced regulations that protect consumers while fostering innovation in the sector.

A New Era for Crypto Under Trump?

The letter comes as President-elect Trump has signaled his strong support for the cryptocurrency industry. Earlier in November, reports emerged suggesting that Trump plans to establish a White House position dedicated solely to cryptocurrency and related policy matters.

This development follows the announcement that SEC Chairman Gary Gensler, a prominent critic of the crypto industry, will be stepping down. The Blockchain Association sees this as an opportunity to shift the regulatory landscape in favor of a more supportive environment for crypto innovation.

Conclusion: A Collaborative Effort for U.S. Crypto Leadership

With the new administration taking shape, the Blockchain Association is ready to work alongside Trump’s team and its 100 member organizations to ensure the U.S. regains its position as a global leader in cryptocurrency and blockchain technology.