Blockchain Association Urges U.S. Government to Prioritize Cryptocurrency Regulation

According to Foresight News, the U.S. Blockchain Association has submitted a letter to President-elect Trump and the incoming Congress, representing nearly 100 of its members. The letter outlines key priorities for the cryptocurrency industry that need attention within the first 100 days of the new administration. The association emphasizes the importance of establishing a regulatory framework for cryptocurrencies. This framework is seen as crucial for providing clarity and stability to the industry, which has been facing regulatory uncertainties. The letter also calls for an end to the debanking of cryptocurrency and blockchain technology companies, a practice that has hindered the growth and development of the sector. Additionally, the association urges the appointment of a new chairman for the Securities and Exchange Commission (SEC) and the revocation of SAB 121, which has been a point of contention within the industry. The letter also highlights the need for new leadership at the Treasury Department and the Internal Revenue Service (IRS) to better align with the evolving landscape of digital currencies. Furthermore, the establishment of a cryptocurrency advisory committee is proposed to facilitate collaboration between Congress, federal regulators, and industry stakeholders. This committee would serve as a platform for dialogue and cooperation, ensuring that the interests and concerns of the cryptocurrency community are adequately represented in policy discussions. The Blockchain Association's letter reflects the growing recognition of the importance of cryptocurrencies and blockchain technology in the modern economy. By addressing these priorities, the association believes that the U.S. can position itself as a leader in the global digital currency landscape.