The Blockchain Association urges president-elect Donald Trump and Congress to pursue five essential initiatives in the first 100 days to make the U.S. a cryptocurrency leader.

The Blockchain Association, a U.S. crypto lobbyist, supports cryptocurrency regulation. They prioritized eliminating crypto company bank account bans and selecting new SEC, Treasury, and IRS heads.

A bitcoin advisory council comprising Congress and federal officials was also suggested.

• Congress should pass cryptocurrency and stablecoin laws, according to the Blockchain Association. This approach would balance consumer protection and innovation, it said. Stablecoins guarantee price stability by being tethered to established assets like the U.S. dollar.
• The organization worried about crypto firms losing banking services. Traditional banks handle payroll, taxes, and vendor payments for these enterprises. Without banking, their businesses might suffer.
• The group demanded a new SEC head to end the present antagonistic regulatory attitude. Reversing SAB 121, an accounting guideline that restricts crypto-related enterprises, was also advised.
• Cryptocurrency tax laws like the Broker Rule may stifle innovation and drive firms abroad. The letter encouraged the government to choose privacy-supporting and digital asset-tax-fair leaders.
• A council to enable industry-Congress-federal regulator coordination was suggested in the letter. Public-private partnerships might safeguard consumers and encourage innovation, it claimed.