Strategies for the U.S. to Become the Global Leader in Crypto

Key Insights:

Over 20 attorneys from the crypto sector have outlined initiatives for the Trump administration to foster a regulatory framework conducive to blockchain development.
The proposals include addressing SEC and CFTC regulations, legislation for stablecoins, and reducing tax burdens and bureaucratic obstacles.

Open Letter to President-Elect Trump

Dear President-Elect Trump,
Last year, you vowed to transform the U.S. into the crypto capital of the world during your keynote speech at the Bitcoin conference in Nashville. As you re-enter office, we, the members of the crypto law community, would like to suggest regulatory policies to help realize that vision.
The U.S. is fundamentally aligned to lead in the crypto space, yet current regulatory frameworks fail to support this evolution. Many entrepreneurs and innovators have been driven abroad by an unwelcoming business environment.

Supporting U.S. Businesses

The crypto sector has yielded various use cases including digital currencies, decentralized finance (DeFi), and more. Companies like Coinbase and Consensys lead initiatives requiring clear guidelines from regulators.

General Guidelines

Token issuance, critical to the crypto economy, is governed by overlapping jurisdictions of the SEC and CFTC. Specific legislation should clarify authority boundaries and improve market structure. The SEC's expansive interpretation of securities laws should be curtailed to provide a clearer operational framework for the industry.

Key Recommendations:

Stablecoins: Legislation should ensure their transparent backing without threatening financial stability.
DeFi: Create regulations that avoid adversely affecting the decentralized ecosystem while still protecting consumers.

The future of blockchain technology in the U.S. depends on collaborative regulatory approaches that respect crypto values such as privacy, disintermediation, and innovation. We urge you to seize this moment to lead globally in crypto regulation to strengthen America’s technological and economic standing.