The Blockchain Association’s Priorities for the First 100 Days of the Trump Administration
The Blockchain Association, a nonprofit representing crypto and blockchain businesses in the U.S., recently sent a letter to president-elect Donald Trump and Congress outlining five key priorities for the first 100 days of the new administration.
Leadership Overhaul
- Replacement of Gary Gensler at the SEC
- Overhaul of leadership at the IRS and Treasury Department
Taxation of Digital Assets
- Inconsistent taxation of digital assets
- Concerns about the ‘Broker rule’ introduced by the IRS
Regulatory Framework
- Establishment of a ‘fit-for-purpose’ regulatory framework for cryptocurrencies
- Balance between customer protection and innovation
Banking Access
- End the practice of denying crypto companies access to traditional banking rails
- Critical for paying employees, vendors, and taxes
Crypto Advisory Council
- Creation of a crypto advisory council to work with Congress and regulatory watchdogs
- Importance of public and private partnerships in establishing effective regulations
The Blockchain Association’s letter also called for the rollback of the SAB 121 accounting guideline and emphasized the need for a welcoming environment for software developers and privacy protection for U.S. citizens.
