The crypto asset industry hits the table with a detailed plan to boost bitcoin (BTC) and cryptocurrencies in the first 100 days of US President-elect Donald Trump in office.
The Blockchain Association, representative of almost 100 organizations linked to digital assetssent a letter to the president-elect and the new Congress.
The document details a five-point strategic plan to strengthen the cryptoasset economy in the United States, with the intention of positioning it as a global leader in the sector.
This proposal is a direct response to years of a regulatory environment considered hostilewhich, according to the association, has driven innovators out of the country.
The first point of the plan proposes establishing a specific regulatory framework for cryptocurrencies.
The Blockchain Association suggests that this effort could become a bipartisan project led by Congress, with special attention to market structure and regulation of stablecoins. This approach seeks to balance innovation with consumer protection.
The second point focuses in ending the debanking of cryptocurrencies. Companies and users of the cryptocurrency ecosystem “have been unfairly denied access to traditional banking channels, essential for paying employees, suppliers and taxes,” he points out.
The association urges the incoming administration to correct this practice and ensure equitable access to the financial system.
Reforms at the SEC, Treasury Department and the IRS
The third and fourth points require changes in the main regulatory institutions: the United States Securities and Exchange Commission (SEC), the Treasury Department and the Internal Revenue Service (IRS).
The letter calls for appointing a new president for the SEC and eliminate policies they consider harmful, such as SAB 121. This is accounting guidance issued by the SEC that establishes certain rules for how companies should account for and report the digital assets they hold for their clients.
Additionally, they propose renewed leadership at Treasury and the IRS to correct tax inconsistencies and create a favorable environment for software developers.
Gary Gensler, current president of the SEC, announced that he will leave his position on January 20, 2025. day on which Trump will be inaugurated as the new president of the North American nationas reported by NoticiasVE.
Gensler’s resignation will give President-elect Trump the opportunity to nominate a successor. Several candidates have been mentioned, but one of the names that sounds the most is that of Teresa Goody Guillén, partner at the law firm BakerHostetler and co-director of its team specialized in the cryptocurrency ecosystem.
Finally, The letter advocates the creation of a cryptocurrency advisory board to work collaboratively with Congress and federal regulatory agencies. This body would serve as a bridge between the public and private sectors, establishing rules that benefit both the industry and consumers.
United States: Bitcoin capital of the world
From the beginning of his campaign, Trump declared his intention to turn the United States into bitcoin superpower.
He has talked about relaxing regulations, boosting Bitcoin mining and attracting investment to the sector. To realize this vision, he announced the creation by one Department of Government Efficiency (DOGE)led by Elon Musk and Vivek Ramaswamy, a well-known cryptocurrency advocate.
The DOGE will have the mission of dismantling bureaucracy, reducing excessive regulations and streamlining federal agencies. This approach reflects the president-elect’s intention to create a friendlier environment for digital assets.
A pro-Bitcoin team
Trump has reinforced his commitment by surrounding himself with key pro-cryptocurrency figures. Appointed Howard Lutnick, CEO of Cantor Fitzgerald and Bitcoin advocate, as Secretary of Commerce. Lutnick, in addition to being an ally of Trump on Wall Street, has promoted favorable policies for cryptocurrencies in various forums.
Since its founding in 2018, the Blockchain Association has worked to defend the interests of companies and entrepreneurs in the cryptocurrency ecosystem. This initiative arose to bring regulators in Washington closer together and ensure an open dialogue about the future of digital assets.
With this strategic plan, the industry seeks to position the United States as a global leader in cryptocurrencies, marking the beginning of a key chapter for the sector during the Trump administration.