Crypto Lobbyists Push Trump for Urgent Clarity on U.S. Cryptocurrency Rules
Sixty-five major crypto organizations unite, urging Trump to fix the regulatory fog surrounding digital assets.
Crypto Industry Seeks Answers, Not Ambiguity
When the rules aren't clear, the markets hesitate—and in crypto, hesitation costs billions. A coalition of 65 cryptocurrency organizations, including heavyweights like the Solana Policy Institute, Blockchain Association, Block, Pantera, Wintermute, Skybridge, and Uniswap Labs, has taken its case straight to the top: President Donald Trump.
In a detailed letter, they've urged the administration to instruct federal agencies to issue immediate clarity on how cryptocurrency should be regulated and taxed. The message? The United States is losing its edge because innovators are trapped in a maze of uncertainty.
The Tax Puzzle: Staking, Mining, and Common Sense
At the core of the letter is a plea for clear taxation rules. Lobbyists are asking the Treasury Department to treat staking and mining rewards as independently created property, taxable only when those assets are sold or converted—not when they're generated.
That's a crucial distinction. Imagine taxing a farmer when the corn grows instead of when it's sold. The same logic applies here. Crypto networks produce new tokens through work—computational or otherwise—and taxing creation instead of profit, they argue, stifles innovation and burdens honest participants.
The group also recommends a tax exemption for small crypto transactions under $600—everyday transfers that shouldn't require a mountain of paperwork or trigger IRS scrutiny. It's a call for pragmatism in a sector often treated like the Wild West.
Developers Under Fire: The Samourai and Tornado Cases
Beyond taxes, the letter highlights an urgent legal issue: protecting the rights of software developers. Recent legal cases have shaken the crypto community. The developers behind Samourai Wallet, a privacy-focused Bitcoin tool, were sentenced to up to five years in prison for creating software that prosecutors claimed facilitated money laundering.
Another high-profile case involves Roman Storm, the developer of Tornado Cash, a decentralized privacy protocol accused of being an unlicensed money transmitter. His defense? Writing open-source code isn't a crime.
The lobbying coalition wants the administration to clarify that developers of open and decentralized protocols should not be prosecuted while regulatory frameworks are still being formed. For an industry built on innovation, this is more than policy—it's survival.
FinCEN and the Bank Secrecy Act: Updating Outdated Rules
The letter also presses the U.S. Financial Crimes Enforcement Network (FinCEN) to update its interpretation of the Bank Secrecy Act (BSA). The crypto groups argue that non-custodial blockchain software—platforms that never control user funds—should not fall under BSA requirements.
It's a practical argument: applying traditional banking laws to decentralized software is like forcing electric vehicles to burn gasoline just to fit old regulations. Non-custodial apps don't hold assets, so holding them to custodian rules doesn't make sense.
Regulation Without Congress: Agencies Already Have the Tools
The coalition's letter emphasizes that the Treasury Department, IRS, SEC, and Justice Department already possess enough authority to clarify existing crypto rules without waiting for new laws from Congress.
This is a critical point. Lawmakers have long promised comprehensive digital asset legislation, but bills often stall amid political wrangling. Meanwhile, entrepreneurs and investors face a murky landscape that discourages domestic growth.
In short, the crypto sector is saying: act now. Don't let bureaucracy choke progress. If Washington waits, other countries—especially those embracing crypto frameworks—will outpace the United States in digital finance innovation.
Why Trump's Response Matters
The timing of this appeal is strategic. Since returning to the White House, President Trump has signaled a more favorable stance toward digital assets, suggesting that the U.S. should "lead the world in cryptocurrency innovation." Yet, without explicit guidance from his administration, agencies continue to interpret crypto laws inconsistently.
Trump's decision here could shape America's crypto destiny. If he directs the Treasury and other departments to adopt clearer, innovation-friendly interpretations, the U.S. could reclaim its global leadership in blockchain technology. If not, the confusion—and capital flight—will continue.
A Turning Point for U.S. Crypto Policy
For an industry that thrives on transparency, regulatory ambiguity is poison. The crypto lobby's unified message is simple but powerful: give us clarity, not chaos.
As the letter concludes, defining clear, fair rules will not only protect developers and investors but also cement America's role in shaping the digital economy of the future.
Much like Warren Buffett's favorite analogy about bridges—you don't build one that holds just most cars; it must hold all of them. Crypto advocates want the same kind of durable framework: rules strong enough to handle growth, yet flexible enough to let innovation cross safely.
