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The Blockchain Association is calling on US president-elect Donald Trump to prioritize crypto in his first 100 days in power.
The not-for-profit pro-crypto lobbying group revealed its top five priorities for the “most pro-crypto Congress in history” on Friday (Nov. 22), including transparent regulation and leadership shakeups.
What is the Blockchain Association calling for?
The group, which represents around 100 crypto companies, wrote to Trump and shared the letter online last week.
1/ Today, Blockchain Association submitted a letter to President-elect Trump and the new Congress outlining priorities impacting the crypto industry to consider in the first 100 days.https://t.co/uMa29LYHpr pic.twitter.com/kJbx9l1cqv
— Blockchain Association (@BlockchainAssn) November 22, 2024
First and foremost, the Blockchain Association is calling for a reform in regulations. It says that the government must take the lead here to both keep consumers safe and foster innovation.
It also calls for an end to “the senseless debunking of crypto companies”. This is when a traditional bank decides to close a person or company’s account as their activity is viewed as too risky. The Blockchain Association described this as “discrimination” against crypto investors and claims that it decreases competition in the market.
The group’s third and fourth points ask for Trump to appoint new leadership in the Securities and Exchange Commission (SEC) and the Treasury Department. The letter said the SEC has been “hostile” to crypto and that a new leader is essential for fairer regulations.
It adds that tax rules require a “reset”, including new leaders at the Treasury and IRS. The Blockchain Association fears that companies are being driven out of the country entirely.
Finally, it proposes the concept of a crypto advisory council to aid Congress in making decisions. “Our industry is eager to engage with your administration directly,” the letter reads.
The Blockchain Association’s CEO Kristin Smith added: “President-elect Trump’s vision to make America the crypto capital of the world is a hope shared by the entire crypto industry – and its founders, developers, and innovators. And it can be realized with President-elect Trump’s arrival to Washington, along with the most pro-crypto Congress in history,”
Feature image credit: Ideogram
