- The Blockchain Affiliation needs to contemplate the institution of a regulatory framework for cryptography as a precedence.
- Trump is predicted to nominate a brand new SEC chairman throughout the first 100 days.
- Different key areas embrace ending debanking of crypto corporations and creating an advisory board.
The Blockchain Affiliation has despatched a letter to United States President-elect Donald Trump urging the brand new administration to look at 5 key areas throughout its first 100 days in workplace.
The affiliation, which has almost 100 members, outlined precedence areas it believes the Trump administration and Congress ought to concentrate on throughout these first three months in a letter submitted Nov. 22.
Establishing a regulatory framework for cryptocurrency is seen as one of many first issues the pro-crypto president and Congress ought to concentrate on, in response to the cryptocurrency and blockchain advocacy group .
“President-elect Trump’s imaginative and prescient of creating America the crypto capital of the world is a hope shared by the complete crypto business – in addition to its founders, builders and innovators. And this may be achieved with the arrival of President-elect Trump in Washington, in addition to essentially the most pro-crypto Congress in historical past,” stated Kristin Smith, CEO of the Blockchain Affiliation.
New SEC Chairman and abandonment of SAB 121
The group additionally desires to see an finish to the debanking of crypto and blockchain corporations, the speedy appointment of a brand new SEC chairman, and the rescission of SAB 121.
Apart from appointments to the Treasury Division and the IRS, the Blockchain Affiliation believes the opposite precedence must be the creation of a crypto advisory council. In response to the letter, this council will work with Congress and US federal regulatory companies to advertise, not stifle, crypto innovation.
“We provide a Crypto Advisory Council to assist develop detailed and tailor-made rules by means of collaboration with Congress and regulators. Public-private partnerships are important to establishing good guidelines that reply to expertise and defend customers,” the group famous.
The Blockchain Affiliation's letter comes as studies counsel Trump's group is engaged on appointing a “crypto czar” to the White Home. A number of pro-crypto figures are additionally within the working to turn out to be the subsequent chairman of the SEC, with Gary Gensler set to resign in January.
Trump's election boosted the crypto market, sending Bitcoin to just about $100,000, whereas XRP, Solana and Cardano are among the many altcoins which have rallied strongly amid optimism.
