{"id":3192,"date":"2024-11-23T16:31:56","date_gmt":"2024-11-23T16:31:56","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=3192"},"modified":"2024-11-23T16:31:56","modified_gmt":"2024-11-23T16:31:56","slug":"crypto-roadmap-presented-to-trump-and-congress-by-blockchain-association-for-initial-100-days","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=3192","title":{"rendered":"Crypto Roadmap Presented To Trump And Congress By Blockchain Association For Initial 100 Days"},"content":{"rendered":"
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As President-elect Donald Trump<\/a> prepares to assume office on January 20, 2025, the cryptocurrency industry is optimistic for a new regulatory era.\u00a0<\/p>\n

The Blockchain Association, a nonprofit organization focused on promoting innovation and fostering a supportive policy environment for digital assets, has taken the initiative to communicate its priorities directly to the incoming administration and Congress.<\/p>\n

Steps For Supporting Crypto Assets In Trump\u2019s First 100 Days<\/h2>\n

In a letter <\/a>penned by Kristin Smith, CEO of the Blockchain Association, the organization expressed its hope for a friendlier regulatory landscape under Trump\u2019s leadership.\u00a0<\/p>\n

Smith noted that for years, American crypto innovators have faced significant challenges due to a \u201chostile regulatory environment,\u201d which has sometimes pushed them to operate outside the country.\u00a0<\/p>\n

The CEO emphasized that Donald Trump\u2019s presidency has the potential to change this trajectory and restore the US position as a global leader in technological innovation, with the digital asset ecosystem<\/a> at the heart of this growth.<\/p>\n

The Blockchain Association outlined several critical steps that can be taken during Trump\u2019s first 100 days to support the domestic digital asset economy.\u00a0<\/p>\n

First and foremost, a comprehensive\u00a0regulatory framework<\/a> for cryptocurrencies must be established. Smith advocates for a bipartisan approach to legislation surrounding market structure and stablecoins, encouraging innovation and ensuring consumer protections.<\/p>\n

Another pressing issue highlighted in the letter is the need to end the \u201cdebanking of cryptocurrency companies.\u201d Smith claims that businesses and users have been \u201cunjustly\u201d denied access to essential banking services, which are \u201cvital\u201d for operational functions such as paying employees and taxes.\u00a0<\/p>\n

Changes In Treasury And IRS Leadership<\/h2>\n

The letter also calls for\u00a0appointing\u00a0a new chair\u00a0<\/a>for the Securities and Exchange Commission (SEC) and repealing\u00a0SAB 121, the agency\u2019s accounting guidelines that have been viewed as punitive towards the crypto sector.\u00a0<\/p>\n

Smith argues that new leadership at the SEC is crucial for creating a \u201cfairer and more transparent\u201d regulatory framework that moves away from a regulation-by-enforcement approach characterized in the past four years.<\/p>\n

Additionally, the Blockchain Association urges the appointment of fresh leadership within the Treasury Department and the Internal Revenue Service (IRS).\u00a0Smith argues that the current tax treatment of digital assets has been \u201cinconsistent,\u201d and proposed regulations, such as the Broker Rule, could drive promising companies out of the US.\u00a0<\/p>\n

Finally, the organization advocates for developing a crypto advisory council <\/a>that would work collaboratively with Congress and federal regulatory agencies. Such public-private partnerships are viewed as essential for crafting \u201csmart regulations\u201d that protect consumers while supporting industry growth.<\/p>\n

In closing, Smith reaffirmed the commitment of the Blockchain Association and its nearly 100 member organizations to work alongside\u00a0Trump\u2019s administration<\/a>. By implementing these recommendations, she believes the United States can regain its status as the crypto capital of the world, paving the way for a new era of financial and technological advancement.\u00a0<\/p>\n

\"Crypto\"<\/p>\n

Featured image from DALL-E, chart from TradingView.com <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

As President-elect Donald Trump prepares to assume office on January 20, 2025, the cryptocurrency industry is optimistic for a new regulatory era.\u00a0 The Blockchain Association, a nonprofit organization focused on promoting innovation and fostering a supportive policy environment for digital assets, has taken the initiative to communicate its priorities directly to the incoming administration and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-3192","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3192"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3192\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}