The Blockchain Association has addressed an open letter to newly elected President Donald Trump and Congress, urging them to prioritize key actions in the first 100 days of his administration to position the United States as a global leader in cryptocurrency innovation.

Proposed Measures for Crypto Regulation

The Blockchain Association, a leading U.S.-based crypto lobbying group, has outlined steps to eliminate regulatory barriers and support the domestic digital asset economy. Key proposals include:

  • Lifting the ban on banking services for crypto companies.

  • Appointing new leadership for the SEC, Treasury, and IRS.

  • Establishing an advisory council for cryptocurrency to work with Congress and federal regulators.

Five Priorities for the First 100 Days

The letter highlights five key actions aimed at fostering a supportive environment for crypto businesses and users:

1. Creating a Regulatory Framework for Cryptocurrencies

The association urged Congress to draft comprehensive legislation for cryptocurrency and stablecoin markets. This framework should balance consumer protection with innovation. Stablecoins, which are digital currencies pegged to traditional assets like the U.S. dollar, provide price stability for users and play a vital role in the ecosystem.

2. Ending Debanking of Crypto Companies

The Blockchain Association raised concerns about crypto companies losing access to banking services, which undermines their ability to process payroll, taxes, and vendor payments. The group called for restoring banking access to ensure smooth operations for these companies.

3. Reforming the SEC and Repealing SAB 121

The letter called for appointing a new SEC chair to replace the current leadership, which it described as hostile toward crypto. The association also advocated for the repeal of SAB 121, an accounting rule imposing stringent requirements on crypto-related businesses.

4. Appointing New Leadership at the Treasury and IRS

The association criticized current crypto tax policies, such as the proposed broker rule, for stifling innovation and driving companies overseas. It urged the administration to appoint leaders who prioritize privacy and support a fair tax environment for digital assets.

5. Establishing a Cryptocurrency Advisory Council

The proposed advisory council would foster collaboration between the industry, Congress, and regulators. The public-private partnership would aim to create regulations that protect consumers while encouraging innovation.

Collaboration on Crypto Initiatives

The Blockchain Association expressed its readiness to collaborate with the Trump administration and its 100+ member organizations to restore the U.S.’s position as a global financial and technological leader in cryptocurrency.

“We stand ready to work with you to ensure that the United States can once again become the world’s cryptocurrency capital,” the Blockchain Association stated in its letter.

Trump’s Pro-Crypto Stance

The letter comes as Trump signals strong support for cryptocurrency. In early November, reports emerged that Trump plans to create a White House position dedicated exclusively to crypto and related policies.

Changes in SEC Leadership

The letter also follows the announcement of SEC Chair Gary Gensler’s upcoming resignation. This change could pave the way for more favorable regulations for the cryptocurrency industry.

The Blockchain Association believes the measures outlined in the letter could significantly improve the crypto environment in the U.S., bolstering its position as a global leader in the field.

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