Crypto advocacy group Blockchain Association has reached out to US President-elect Donald Trump and the newly elected US Congress on ways to create a favorable regulatory environment for the digital asset industry.

Trump’s Ideal Crypto Priorities For First 100 Days: Blockchain Association

Generally, Trump’s electoral manifesto included strong support for the crypto space by creating a National Bitcoin Reserve, promoting Bitcoin mining, etc. However, the Blockchain Association, which consists of 100 member organizations, has outlined five steps for the incoming administration to provide immediate support for the nascent industry. 

The advocacy group emphasizes that these steps be implemented in Trump’s first 100 days in office as part of larger efforts to help the US emerge as the crypto capital of the world.

Firstly, the Blockchain Association pushes for the establishment of a crypto regulatory framework, a long-standing demand of several market stakeholders. The organization advises a fit-for-purpose framework formed by bi-partisan legislation to facilitate innovation and protect consumers’ interests.

Furthermore, Donald Trump is urged to actively end the debanking of digital assets which has denied crypto companies access to traditional banking services stifling operations in terms of employee compensation and tax settlement.

Blockchain Association also comments on the call for a new chairman of the Securities and Exchange Commission, which is now widely expected following Gary Gensler’s announcement to resign on January 20. The cryptocurrency support group pushes for a new appointment that will introduce a “fairer, more transparent” regulatory approach that includes the reversal of the Commission’s SAB 121 policy. 

The fourth point raised in this advocacy letter calls for new leadership at the US Treasury Department and Internal Revenue Service (IRS), which will draft appropriate tax policies f

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Author: Semilore Faleti