Originally published on: November 22, 2024
A Washington DC-based advocacy group, the Blockchain Association, has sent a compelling letter to President-elect Donald Trump urging him to focus on revolutionary cryptocurrency and blockchain regulatory changes within his first 100 days in office.
The letter, which was recently published on the Association’s website, outlines a comprehensive plan with five crucial points for the new administration to address in regards to the cryptocurrency and blockchain industries.
The primary goal of the Blockchain Association is to prompt the republican party to reshape federal oversight in these sectors in order to foster growth and innovation.
In the letter, the Association stated that American crypto innovators face challenges and are often forced to go overseas due to the current regulatory environment which they find hostile.
The five-point plan proposed by the Association advocates for a thorough reform of crypto regulation, focusing on fostering innovation while ensuring consumer protection. The plan also includes a call to end the debanking of cryptocurrency businesses and appoint a new SEC chair who would revise the SEC Staff Accounting Bulletin 121.
Furthermore, the Blockchain Association recommends new leadership appointments at the Treasury and IRS. Recent reports suggest that President Trump is considering appointing new officials to these positions, including Cantor Fitzgerald CEO Howard Lutnick for the Treasury Secretary role.
The Association’s letter also proposes the establishment of a crypto advisory council that would collaborate with Congress and federal regulatory agencies to enhance the regulatory framework around cryptocurrencies.
In light of these developments, it appears that the Trump administration is already considering the formation of a dedicated post for cryptocurrency regulation within the White House.
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