The Blockchain Association wants to make establishing a cryptocurrency regulatory framework a priority. President Trump must appoint a new SEC chairman within his first 100 days. Other key areas include ending the debankment of crypto companies and creating an advisory board.
The Blockchain Association has sent a letter to U.S. President-elect Donald Trump asking the new administration to consider five key areas in its first 100 days.
In a letter submitted Nov. 22, the association, which has about 100 members, identified priority areas it believes the Trump administration and Congress should focus on in the first three months.
Establishing a crypto regulatory framework should be one of the first focuses of a pro-crypto president and Congress, according to crypto and blockchain advocacy groups.
“President-elect Trump’s vision of making America the crypto capital of the world is a hope shared by the entire crypto industry and its founders, developers, and innovators. It could happen with the most pro-crypto Congress,” said Kristin Smith, CEO of the Blockchain Association.
New SEC Chair and SAB 121 Rollback
The group also wants to end debanking for crypto and blockchain companies, swiftly appoint a new SEC chairman, and repeal SAB 121.
Similar to appointments at the Treasury Department and IRS, the Blockchain Association believes the creation of a Cryptocurrency Advisory Board should be another priority. According to the letter, the council will work with Congress and U.S. federal regulators to encourage, rather than stifle, innovation in cryptocurrencies.
“We propose the creation of a Cryptocurrency Advisory Board to help develop detailed regulation that is fit for purpose, technology-enabled, and protects consumers through collaboration with Congress and regulators. “Public-private partnerships are essential to establishing smart rules,” the group said.
The Blockchain Association’s letter comes amid reports suggesting Trump’s team is working on appointing a “cryptocurrency czar” to the White House. Cryptocurrency advocates have also been floated as candidates to become the next SEC chairman, with Gary Gensler set to resign in January.
The election of President Trump has boosted the cryptocurrency market, with the value of Bitcoin rising to nearly $100,000, and altcoins such as XRP, Solana, and Cardano are surging wildly amid optimism.
