65+ Crypto Organizations Urge Trump to Trigger Fast-Track Rules Guiding America’s Crypto Path

CN
2 hours ago

A strong push for American crypto leadership is accelerating as industry groups outline swift federal actions to expand digital asset innovation. Solana Policy Institute and a broad coalition of organizations have urged President Donald Trump to advance tax, regulatory, and enforcement clarity supporting nationwide crypto and blockchain growth.

Referencing the coalition letter sent to the White House, Solana Policy Institute shared on social media platform X on Nov. 20:

Today, 65+ crypto organizations, from major trade associations to builders, investors, and advocates, spoke together with one voice: it’s time for federal agencies to act.

The letter cited numerous tax priorities such as revising mining and staking guidance, confirming nonrecognition treatment for wrapping and bridging, and postponing new Internal Revenue Code Section 6050I rules until stablecoin taxation is resolved. It further noted that digital assets should receive consistent commodity treatment for foreign trading and that charitable donation rules should be updated to match traditional asset standards. Agencies were also asked to broaden qualified research definitions to include cryptographic engineering and smart contract development.

Read more: Crypto Clarity Bill Gains Fresh Hope for December Action as Coinbase Chief Presses DC

The letter stresses:

The roadmap exists. Now agencies must act to cement American leadership in crypto.

This additional statement reinforced the document’s broader argument that federal regulators should supply interim clarity while longer-term rulemaking continues. The coalition encouraged the U.S. Securities and Exchange Commission to advance safe harbors for open-source development, defend self-custody protections, and expand exemptive relief for decentralized finance activity. It also urged Treasury and the Financial Crimes Enforcement Network to align policy with prior guidance on noncustodial software and to withdraw earlier mixing proposals. A call for the Department of Justice to end regulation by prosecution and dismiss the Roman Storm case underscored the industry’s emphasis on safeguarding code publication. Although critics argue these shifts could complicate enforcement, crypto advocates stress that predictable rules would deepen liquidity, strengthen market oversight, and bolster U.S. competitiveness.

  • What federal crypto actions did industry groups urge the White House to advance?
    They pushed for immediate clarity on tax, regulatory, and enforcement policies supporting nationwide blockchain growth.
  • What tax priorities were highlighted by the coalition?
    The filing emphasized revising mining and staking guidance, confirming wrapping and bridging treatment, and delaying Section 6050I rules.
  • What regulatory changes did advocates request from the SEC?
    They urged safe harbors for open-source development, stronger self-custody protections, and expanded exemptive relief for decentralized finance.
  • Why did the coalition call for dismissal of the Roman Storm case?
    The industry argued it is essential for protecting the publication of code and ending regulation by prosecution.

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