Blockchain Association, a Washington DC-based advocacy group, reached out to Donald Trump on November 22 with a formal request to focus on cryptocurrency and blockchain regulation reforms in the first 100 days of his presidency.
The proposal seeks to encourage innovation by reducing the restrictive policies that have hindered American crypto developers and driven some to relocate operations overseas.
Publicly available on the Association’s website, the letter introduces a five-point plan to reshape how cryptocurrency and blockchain technologies are governed.
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The group’s first recommendation is the creation of a framework for digital assets—one that encourages technological progress while safeguarding consumers. Alongside this, they urge an end to the federal practice of “regulation by enforcement”, a tactic they argue holds back innovation.
Further, the Association highlights the importance of halting discriminatory financial practices, such as the debanking of crypto businesses. They also propose the appointment of a new Securities and Exchange Commission (SEC) leader tasked with reversing policies like SAB 121.
The group also calls for overhauls at the Treasury Department and the Internal Revenue Service (IRS), pointing to the need for leadership that better aligns with the blockchain sector’s growth. Speculation has already circulated about potential candidates for Treasury Secretary, including Howard Lutnick of Cantor Fitzgerald and Scott Bessent of Key Square Group.
Finally, the Association suggests forming a crypto advisory council to facilitate collaboration between Congress, regulatory bodies, and the administration. This council, they argue, would be crucial in ensuring an approach to crypto and blockchain regulation.
As the crypto industry pushes for regulatory clarity, the financial world continues to grapple with its own stance on digital assets. Recently, Charles Schwab's incoming CEO shared his thoughts on the company's evolving approach to cryptocurrency. What’s his vision? Read the full story.
