Blockchain Association Outlines 5 Crypto Priorities For Donald Trump’s Administration

The Blockchain Association has outlined a roadmap for the incoming administration of Donald Trump, aiming to reshape the United States’ approach to the digital asset industry.

In a detailed letter sent to the President-elect and the new Congress, the trade association emphasized key actions that could support innovation while addressing regulatory challenges faced by the crypto sector.

Blockchain Association Outlines 5 Crypto Priorities For Donald Trump

The Blockchain Association has stressed the need for a clear and comprehensive regulatory framework for digital assets. It called on Donald Trump and Congress to use bipartisan support to enact market structure and stablecoin regulation that encourages innovation and prevents consumer harm.

A clear legal system should be put in place to avoid the creation of uncertainty and assure the world that America is at the forefront of blockchain technology.

The association also demanded an end to debanking of crypto companies, which it has claimed has damaged companies by denying them access to established financial services. It noted that these companies require banking services to make payments to employees, vendors, and taxes and said that such denial hampers the industry.

New Leadership at the US SEC and Treasury

Among the priorities named by the Blockchain Association, the main one is the personnel change at the Securities and Exchange Commission (SEC) and the Treasury Department. The association noted that under the current chairman of the SEC, Gary Gensler, the current approach to regulation is problematic, especially enforcement-based.

The SEC has confirmed Gensler’s decision to resign on January 20, 2025, which is the same day that Donald Trump will be sworn in. In his farewell statement, Gensler said, “It has been a privilege to serve at the SEC.” The Blockchain Association has expressed hope that new leadership at the SEC can bring a more permissive, and cooperative, approach to regulation.

At the Treasury Department, the association called for a focus on fair tax treatment for digital assets and prioritizing privacy protections. The association also urged the administration to review the controversial Broker Rule, which it claims may push businesses offshore.

Proposal for a Crypto Advisory Council

Donald Trump’s administration has proposed forming a crypto advisory council to guide digital asset policies and support innovation. According to the Blockchain Association, this council should facilitate collaboration between the government and private sector, ensuring that policies are practical and balanced.

The proposed council would work with federal agencies like the SEC, the Commodity Futures Trading Commission (CFTC), and the Treasury. It would also oversee initiatives such as the creation of a Bitcoin reserve, which Trump’s team envisions as a strategic asset for the U.S. economy.

Concurrently, Ripple CEO Brad Garlinghouse expressed optimism about the Trump administration’s potential impact on the crypto industry. Speaking with Fox Business, he noted that the Biden administration had been hostile toward the sector, and early signs from the incoming administration suggest a more favorable approach.

The Blockchain Association emphasized its readiness to collaborate with Donald Trump and Congress, stating, “We stand prepared to work with the administration to establish the U.S. as a global leader in crypto innovation.”

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.