The Blockchain Association is wasting no time. Just two days after Donald Trump was confirmed as the next US president, the advocacy group sent a letter urging him to prioritize sweeping cryptocurrency regulatory reform. The Washington-based group laid out a five-point plan, saying the Trump administration has a rare opportunity to rewrite the rules and foster innovation. “For years, American crypto innovators have been targeted and, in some cases, driven abroad by a hostile regulatory regime,” the Association said, adding that Trump’s arrival could completely reverse the scenario.
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Calls for clear crypto rules take center stage
At the heart of the Blockchain Association’s efforts is the demand for a “fit framework” that encourages innovation without compromising consumer protection. The group wants the new administration to end the era of “regulation by enforcement,” which has frustrated the industry. This approach, they say, explains why many U.S.-based blockchain companies have moved their operations overseas. According to CointelegraphThe Association also wants a shakeup at the Securities and Exchange Commission, including a new chairman who will roll back policies seen as anti-crypto.
Trump’s Cabinet picks add uncertainty
Personnel changes could play a significant role in how crypto policy plays out. According to the Washington Post, Trump is considering Kevin Warsh, a former member of the Federal Reserve, for Treasury Secretary. If selected, Warsh could later become chairman of the Federal Reserve, adding a layer of intrigue to regulatory prospects. Meanwhile, the Association is also pushing for changes at the top of the IRS, a bold demand given current Republican control of Congress.
A new advisory council in preparation?
Perhaps the most ambitious item on the Association’s wish list is the creation of a dedicated crypto advisory board to bridge the gap between government and the blockchain industry. Cointelegraph reports that Trump’s team is already discussing a White House paper focused exclusively on cryptocurrency regulation. It remains unclear whether these proposals will gain traction, but one thing is clear: The Association is betting big on Trump to lead a crypto renaissance.
