Blockchain Association’s Crypto Plan for Trump’s First 100 Days

To put cryptocurrency at the forefront of U.S. innovation, the Blockchain Association has presented a detailed crypto plan to President-elect Trump and the new Congress.

The letter highlights five key priorities to kickstart the administration’s first 100 days and position America as the global leader in digital assets. The Crypto Plan is a letter supported by over 100 member organizations. Read on to get the content of this letter.

Why This Crypto Plan Matters

Since its start, the American crypto industry has been working in an ill-defined legal area, and the staking policies motivate creators to leave their countries. According to the Blockchain Association, which Kristin Smith heads, they see this as an opportunity to alter that perception. Smith said, “President-elect Trump’s vision to make America the crypto capital of the world is a shared vision by the entire crypto industry.

The following statement is attributed to Blockchain Association CEO @KMSmithDC following President-elect Trump’s nomination of Scott Bessent for Treasury Secretary: pic.twitter.com/eV8oWeQeLi

— Blockchain Association (@BlockchainAssn) November 23, 2024

Here’s a breakdown of the proposed plan:

1. Establish a Clear Crypto Regulatory Framework.
2. The letter calls for bipartisan legislation to provide rules that support innovation while protecting consumers. It would prove very useful and provide much-needed structure to cryptocurrencies.
3. Stop Bank Deplatforming Crypto Firms.
4. Most blockchain and crypto companies need help receiving services from normal banks. The Blockchain Association demands an end to the practice, allowing businesses to pay employees and taxes without barriers.
5. Choose a New SEC Chair and Abolish SAB 121.
6. The present SEC is now on the receiving end of the “regulation-by-enforcement” model. New leadership will help the industry to achieve a more favorable regulatory environment, eliminating anti-crypto measures such as SAB 121.
7. Reformation of Treasury and IRS.
8. The Treasury and IRS need new thinking to work with the primitive tax instruments and rules. Thus, the letter focuses on protecting privacy and making the taxation of digital assets comprehensible.
9. The act should also lead to the formation of a Crypto Advisory Council.
10. The association said that there should be an advisory of public-private members since the regulators and different industries must work together. This would mean forming policies that would help businesses and consumers.

1/ Today, Blockchain Association submitted a letter to President-elect Trump and the new Congress outlining priorities impacting the crypto industry to consider in the first 100 days.https://t.co/uMa29LYHpr pic.twitter.com/kJbx9l1cqv

— Blockchain Association (@BlockchainAssn) November 22, 2024

A Vision for a Crypto-centric America

This crypto plan is not only about regulation; it’s about ensuring the U.S. leads in technological and financial development. The Blockchain Association and its members are eager to support the new administration in achieving this goal.

Conclusion

The crypto plan offers a roadmap to create jobs, attract investments, and provide a clear path for crypto companies to thrive. With the right steps, this administration can turn the U.S. into a global hub for crypto innovation. Let’s see how this bold vision will become a reality.

Disclaimer

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