Dear President Elect Trump,

As the co-head of a major law firm’s digital assets practice, I am hopeful that your nominee to chair the Securities Exchange Commission (SEC) will make much-needed (and long-overdue) reforms to the way the SEC approaches crypto market regulation in the United States.

However, as you know, it will take some time for your nominee to be confirmed as SEC chair, and for him to formulate new SEC guidance and rules for the crypto industry. Bearing that in mind, I write respectfully to propose an Executive Order that you can issue — on Day One of your Presidency — to help restore American leadership in the burgeoning crypto financial system.

While other countries have raced to create regulatory clarity for crypto entrepreneurship to thrive, U.S. lawmakers and regulators have thus far refused to mold and modernize decades-old rules that were never meant to apply to this groundbreaking technology, leaving U.S. market participants adrift in a sea of regulatory ambiguity. All the while, the SEC under its current chair, Gary Gensler, has teed up case-after-case against crypto companies, projects and founders based on allegations that they violated these outmoded and anachronistic requirements, even where there are no allegations of fraud or actual harm to investors.

It should be no surprise that this regulation

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Author: Samson Enzer