Crypto Revival? Blockchain Association Outlines Key Priorities for Trumps First 100 Days
Key Takeaways:
- The Blockchain Association urged Trump and Congress to prioritize crypto-friendly policies in their first 100 days.
- Five critical steps include regulatory frameworks, ending debanking, and appointing new leadership at key agencies.
- The association emphasized collaboration to reestablish the U.S. as a global crypto innovation leader.
The Blockchain Association has called on former President Donald Trump and Congress to adopt a comprehensive crypto agenda in the first 100 days of their administration. In a detailed letter, the association outlined five strategic steps to boost the U.S. digital asset economy, aiming to reverse years of regulatory hostility.
The organization underscored an immediate need for a clear crypto regulatory framework legislation that will assist innovation while it protects consumers, particularly with respect to stablecoins. The letter also called on lawmakers to end the debanking of digital currency firms, a practice seen as choking the growth of the industry.
Crypto companies have recently felt the pinch in accessing traditional systems of banking, with the association claiming this does opposite what it intends to achieve with the ability of such companies to pay employees, vendors, and taxes.
Call for Leadership Changes at Key Agencies
Central to the appeal from the association is a call for fresh leadership at regulatory agencies such as the SEC, Treasury Department, and IRS. In that letter, it complained of the current managements regulation-by-enforcement approach being implemented by the SEC and the revocation of SAB 121, an anti-crypto accounting guideline.
Besides that, it called for the appointment of leaders who could develop balanced tax policies and provide more friendly atmospheres for crypto developers. The association believes that addressing these leadership gaps will retain the U.S.s innovative edge and prevent the migration of promising projects offshore.
A Collaborative Vision for U.S. Crypto Leadership
Moreover, the organization has proposed a crypto advisory council to bridge such gaps between policymakers and the industry. The council would congratulate public-private partnerships on the effective crafting of regulations, put consumer protection at the forefront, and allow the industry to grow.
Once again, the association reiterated that it was willing to work directly with the administration and Congress to help reestablish the U.S. as the global hub for blockchain technology. The letter underlines the confidence of the association in a friendlier regulatory environment that positions crypto innovation as one of the mainstays of technological leadership in America over the coming years.
Related Reading | Bitcoin Hits New Highs: Is $100K Next or Will a Correction Follow?
Read more: https://www.tronweekly.com/crypto-revival-blockchain-association-outlines/
Text source: TronWeekly
