- The Blockchain Affiliation needs to see the creation of a regulatory framework for cryptocurrencies as a precedence.
- Trump is anticipated to nominate a brand new SEC chairman throughout the first 100 days.
- Different key areas embody ending the debanking of crypto firms and creating an advisory board.
The Blockchain Affiliation has despatched a letter to US President-elect Donald Trump urging the brand new incoming administration to contemplate 5 key areas through the first 100 days in workplace.
The affiliation, which has practically 100 members, highlighted precedence areas for the Trump administration and Congress to concentrate on within the first three months in a letter despatched Nov. 22.
In line with a crypto and blockchain advocacy group, contemplate making a regulatory framework for crypto as one of many first issues the crypto president and Congress ought to concentrate on.
“President-elect Trump's imaginative and prescient to make America the crypto capital of the world is a hope shared by your entire crypto business – and its founders, builders and innovators. And it may be realized with President-elect Trump coming to Washington, together with probably the most pro-crypto Congress in historical past,” mentioned Blockchain Affiliation CEO Kristin Smith.
New SEC chair and SAB 121 reverse
The group additionally needs to see an finish to the debanking of crypto and blockchain firms, the speedy appointment of a brand new SEC chairman and the repeal of SAB 121.
Along with conferences on the Treasury Division and the IRS, the Blockchain Affiliation believes one other precedence ought to be the creation of a cryptocurrency advisory board. In line with the letter, the council will work with Congress and US federal regulatory businesses to advertise and never stifle cryptographic innovation.
“We’re proposing a crypto advisory board to assist craft detailed and purposeful laws in cooperation with Congress and regulators. Public-private partnerships are important to create sensible guidelines that reply to know-how and defend customers,” the group famous.
The Blockchain Affiliation's letter comes as reviews recommend Trump's group is working to nominate a “crypto czar” to the White Home. A number of pro-crypto people are additionally within the operating to grow to be the subsequent SEC chairman, with Gary Gensler anticipated to step down in January.
Trump's election boosted the crypto market, sending bitcoin to almost $100,000, whereas XRP, Solana and Cardano are among the many altcoins that rallied laborious on the optimism.
