• The Blockchain Affiliation needs to make establishing a cryptocurrency regulatory framework a precedence.
• President Trump should appoint a brand new SEC chairman inside his first 100 days.
• Different key areas embody ending the debankment of crypto corporations and creating an advisory board.

The Blockchain Affiliation has despatched a letter to U.S. President-elect Donald Trump asking the brand new administration to contemplate 5 key areas in its first 100 days.

In a letter submitted Nov. 22, the affiliation, which has about 100 members, recognized precedence areas it believes the Trump administration and Congress ought to deal with within the first three months.

Establishing a crypto regulatory framework needs to be one of many first focuses of a pro-crypto president and Congress, in accordance with crypto and blockchain advocacy teams.

“President-elect Trump’s imaginative and prescient of constructing America the crypto capital of the world is a hope shared by your entire crypto business and its founders, builders, and innovators. It may occur with essentially the most pro-crypto Congress,” stated Kristin Smith, CEO of the Blockchain Affiliation.

New SEC Chair and SAB 121 Rollback

The group additionally needs to finish debanking for crypto and blockchain corporations, swiftly appoint a brand new SEC chairman, and repeal SAB 121.

Just like appointments on the Treasury Division and IRS, the Blockchain Affiliation believes the creation of a Cryptocurrency Advisory Board needs to be one other precedence. In keeping with the letter, the council will work with Congress and U.S. federal regulators to encourage, somewhat than stifle, innovation in cryptocurrencies.

“We suggest the creation of a Cryptocurrency Advisory Board to assist develop detailed regulation that’s match for function, technology-enabled, and protects shoppers by collaboration with Congress and regulators. “Public-private partnerships are important to establishing sensible guidelines,” the group stated.

The Blockchain Affiliation's letter comes amid stories suggesting Trump's workforce is engaged on appointing a “cryptocurrency czar” to the White Home. Cryptocurrency advocates have additionally been floated as candidates to develop into the following SEC chairman, with Gary Gensler set to resign in January.

The election of President Trump has boosted the cryptocurrency market, with the worth of Bitcoin rising to just about $100,000, and altcoins resembling XRP, Solana, and Cardano are surging wildly amid optimism.