The Blockchain Association has urged newly elected President Donald Trump to take immediate steps to strengthen the US crypto industry during the first 100 days of his term. letter shipped on November 22
The association’s proposals aim to establish a comprehensive regulatory framework for digital assets, end discriminatory banking practices against crypto companies and appoint new leadership at key federal agencies, including the Securities and Exchange Commission (SEC) and the Treasury Department .
The group, which represents more than 100 crypto industry companies, added:
“We stand ready to work with you to ensure that the United States can regain its position as the crypto capital of the world.”
Five-point letter
The Blockchain Association underscored the importance of bipartisan legislation in defining precise rules for market structure and stablecoins. It argued that an appropriate framework is essential to promote innovation while protecting consumers.
Additionally, the association added via an .
The letter highlighted the widespread problem of ‘debanking’, where banks deny crypto companies access to traditional services crucial for payroll, supplier payments and taxes. This practice has stifled the growth of legitimate businesses and hindered American competitiveness.
For example, in early November, Coinbase discovered that the Federal Deposit Insurance Corporation (FDIC) was advising banks to do so limit their banking services to crypto companies.
Additionally, the crackdown on crypto companies stemmed from Operation Chokepoint, the title given to the series of actions against the blockchain industry during President Joe Biden’s administration that also includes enforcement actions. against crypto-friendly banks.
The association called for an immediate end to this discrimination so that the sector could prosper on an equal footing. It also urged an end to the current ‘regulation-by-enforcement’ approach, which has created uncertainty and deterred innovation.
In particular, it called for the rollback of SAB 121, an accounting directive seen as punitive on crypto companies, and demanded a more transparent, innovation-oriented regulatory environment.
It also requested the appointment of a new SEC chairman to replace him Gary Gensler, that one announced he would do so leave his role on January 20. Trump has yet to appoint a replacement and sSome candidates have reportedly declined to take up the post in recent days.
The association also asked for clarity on crypto taxes and urged a reset of Treasury Department and IRS policies regarding digital assets, especially the Broker Rule.
It warned that overreaching tax proposals could drive promising companies abroad. Additionally, the group emphasized the need to support developers and protect the privacy of U.S. citizens in the evolving digital economy.
Finally, the Blockchain Association proposed establishing a public-private advisory council to ensure balanced and effective policymaking. This body would work with Congress and regulators to create pragmatic, targeted regulations that benefit the industry and consumers.
Leadership in danger
The letter described these priorities as critical to undoing what was described as years of hostile regulations that drove innovation abroad. By addressing these issues, the Trump administration could demonstrate a clear commitment to making the US a global leader in blockchain technology.
As other countries race to attract blockchain innovation with crypto-friendly policies, the US risks falling behind without decisive action.
The Blockchain Association urged Trump to seize the opportunity to take a leadership position and ensure the next era of financial and internet innovation is built in America.
With these five priorities at the forefront, the Blockchain Association proposes a regulatory reset that balances innovation with consumer protection, allowing the US to regain its status as a global hub for crypto and digital assets.