Cryptocurrency

United

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<ul class="wp-block-list">
 <li>Blockchain Association pushes for crypto-friendly regulations and stablecoin clarity in the U.S.</li>  
 <li>Calls for SEC leadership change and reversal of strict SAB 121 rules on crypto businesses.</li>  
 <li>Proposes crypto advisory council to bridge industry and government for innovation growth.</li> 
</ul>  
<p>The Blockchain Association, a prominent advocacy group in the cryptocurrency sector in the United States, has issued an open letter to President-elect Donald Trump. They listed several recommendations to strengthen the nation's position as a leader in Cryptocurrency innovation.&nbsp;</p>  
<p>The proposed agenda outlines key actions to be implemented in the first 100 days of the administrative term. These agendas address existing regulatory issues and support the growth of the domestic digital asset economy.&nbsp;</p>  
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<h2 class="wp-block-heading" id="h-call-for-comprehensive-cryptocurrency-regulation-nbsp"><strong>Call for Comprehensive Cryptocurrency Regulation&nbsp;</strong></h2>  
<p>The <a href="https://theblockchainassociation.org/blockchainassociation-submits-letter-to-president-elect-trump-and-the-new-congress-outlining-crypto-priorities-for-first-100-days/" target="_blank" rel="noopener noreferrer nofollow">Blockchain Association</a> highlights the urgent need for a clear and consistent regulatory framework for the cryptocurrency market and stablecoins. This framework, the group urged, should balance between innovation and consumer protection, which would offer guidance to investors and businesses.&nbsp;</p>  
<p>New-generation stablecoins essential to the developing ecosystem are pegged to traditional tokens stabilized in traditional anchors like the USD. The association stressed that it needs well-defined rules to support stablecoins. Moreover it aims to preserve the stability of the financial system and the possibility of its independent transparency.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-addressing-banking-challenges-and-reforming-regulatory-agencies-nbsp">Addressing Banking Challenges and Reforming Regulatory Agencies&nbsp;</h2>  
<p>A significant focus of the letter was the issue of "debanking," wherein cryptocurrency companies lose access to essential banking services. The Blockchain Association warned that these disruptions undermine the operational stability of crypto businesses. Notably impacting their ability to manage payroll, taxes, and vendor payments. It called on the administration to stop discriminating against the banking sector and provide equal opportunities for the cryptocurrency industry to access banking services.&nbsp;</p>  
<p>The association also urged changes in the <a href="https://cryptonewsland.com/solana-etf-filings-advance-talks-with-us-sec-as-key-submissions-loom/" target="_blank" rel="noopener noreferrer nofollow">Securities and Exchange Commission (SEC) 's</a> management, including the appointment of a new chair to replace the outgoing leadership. It slammed the current position as regressive and raised the need to overturn SAB 121, a rule of accounting that imposes stringent requirements on crypto businesses.&nbsp;</p>  
<p>Furthermore, the letter also suggested new CEO appointments in the Treasury Department and the Internal Revenue Service (IRS). The association also stated that tax policies like the proposed Broker Rule will also hinder the advance of this field and force businesses to relocate if tough modifications have no provisions to back privacy and fair taxation.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-crypto-advisory-council-proposal-nbsp"><strong>Crypto Advisory Council Proposal&nbsp;</strong></h2>  
<p>The Blockchain Association has suggested the creation of a <a href="https://cryptonewsland.com/trump-eyes-pro-crypto-sec-shakeup-with-teresa-goody-guillen-at-the-helm/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency council </a>to facilitate cooperation between the government and businesses. This council would endeavor to focus discussions between the industry, Congress, and federal regulators to coordinate consumers’ protection and innovation collectively.&nbsp;</p>  
<p>Additionally, the association reiterated its commitment to working closely with the administration and 100 member organizations. This is to ensure the U.S. reclaims its position as a global hub for financial and technological innovation.&nbsp;</p> 
<p>The post <a href="https://cryptonewsland.com/blockchain-association-proposes-pro-crypto-agenda-for-trumps-first-100-days/" rel="noopener noreferrer nofollow">Blockchain Association Proposes Pro-Crypto Agenda for Trump’s First 100 Days</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Blockchain Association Proposes Pro-Crypto Agenda for Trump’s First 100 Days

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