The Blockchain Association has reasserted its support for working with the U.S. government and asking that authorities renew their efforts so that the U.S. can remain a leader internationally in financial and technological innovation.
The association recently wrote a letter saying it is prepared to collaborate with the administration and its 100 member organizations to help the U.S. become the ‘crypto capital of the world’ once more.
In its letter, the Blockchain Association urged a more supportive stance on cryptocurrency regulation and policy. It said, ‘We stand ready to work with you to enable the United States to regain its status as the crypto capital of the world.’
Trump’s Crypto Support And SEC Leadership Change Signal Regulatory Shift
This letter arrives at a crucial time. Former President Donald Trump, who has publicly embraced crypto, has backed helping the space grow.
Earlier reports from November indicate that Trump intends to set up a dedicated White House post in charge of advanced cryptocurrency policies, a sign of the fledgling fascination with the digital currency sector.
After the announcement that the new SEC Chairman Gary Gensler had resigned, the Blockchain Association sent its letter after the regulatory vertical significantly shifted.
In the wake of mounting pressure from the crypto community and lawmakers who have argued that Gensler has been overly aggressive in advocating for strict regulation of the crypto industry, Gensler is stepping down.
Gensler’s resignation comes at a telling moment in the ongoing debate over the proper regulation lines in the rapidly evolving cryptocurrency space. His departure could help create a path for new leadership at the SEC, allowing for a more crypto-friendly environment in the country.
With the U.S. still struggling with its regulatory framework for digital assets, the blockchain association’s outreach outlines the industry’s desire to work with policymakers to foster innovation and ensure the country retains a competitive edge in the global crypto market. While Trump favors crypto, the SEC’s change might move the needle toward a more crypto-friendly regulatory environment in the U.S. in the short term.
