Summary: Crypto community has a lot of hope from president-elect Donald Trump, and they want trump to take 5 out of several key steps in his first 100 days to position U.S. as a leader in the sector of blockchain and many completely believe he’ll go forth with it too as he started his campaign with a promise to make U.S. a pro-crypto nation.
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Five Crypto Priorities for Trump
1. Create a Regulatory Framework
The association calls for clear crypto legislation to balance consumer protection and innovation, with a focus on stablecoins, which offer price stability by being pegged to assets like the U.S. dollar.
2. End Banking Bans for Crypto Firms
Crypto businesses struggle without banking access, affecting payroll and vendor payments. Lifting restrictions would stabilize their operations.
3. Reform the SEC and Repeal SAB 121
The group seeks new SEC leadership to replace what it terms a “hostile” stance and recommends repealing SAB 121, an accounting rule limiting crypto activities.
4. Appoint Pro-Crypto Treasury and IRS Leadership
New leadership could address restrictive tax policies like the Broker Rule, fostering privacy and innovation while discouraging firms from relocating offshore.
5. Establish a Crypto Advisory Council
A public-private council would promote collaboration between regulators, Congress, and the industry to create balanced rules supporting growth and consumer protection.