Crypto Firms Push Trump to Direct Agencies Over Blocked Regulatory Guidance

More than 65 crypto organizations are calling on President Donald Trump to bypass Congress and order federal agencies to immediately clarify digital asset regulations, amid growing impatience with the pace of legislative reform.

In a letter sent to the White House, led by the Solana Policy Institute and co-signed by major industry players including Uniswap Labs, the Blockchain Association and the Solana Foundation, outlined specific actions that the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Department of the Treasury and the Department of Justice can take without new legislation.

This coordinated action aims to transform Trump’s pro-crypto stance in concrete agency actionusing executive power to drive one of the most sweeping crypto policy changes to date.

The letter acknowledges the Trump administration’s victories, including Reversal of IRS broker rule And adoption of the GENIUS lawa regulatory framework for stable coins.

Despite these measures, the letter says more can be accomplished through executive action to make America “the crypto capital of the world.”

Regarding tax policy, the letter urges Treasury to issue guidance treating staking and mining rewards as “self-created property taxed upon disposition” rather than immediately taxable income.

It also seeks clarification on whether reconciliation, bundling, and cross-chain transactions are non-taxable events and calls for de minimis tax rules that exclude gains on purchases up to $600.

For further regulatory clarity, the signatories want the SEC’s Crypto Working Group to provide interim guidance clarifying that developers of “off-the-shelf and permissionless protocols” are protected from enforcement during rulemaking.

On Challenge protection, the industry is requesting an update to FinCEN guidance confirming that the Bank Secrecy Act does not apply to non-custodial blockchain software, consistent with the agency’s 2019 position on virtual currencies.

The letter notably urges the Justice Department to dismiss charges against Tornado Cash coin mixer developer Roman Storm, who was guilty of a conspiracy to operate an unlicensed money transmitter in August, “recognizing that Storm’s work on Tornado Cash represents the release of open source software and not a financial crime.”

The call comes as the crypto community faces similar concerns regarding the developers of Samourai Wallet, who were recently sentenced to prison for their work on privacy-focused software.

Daniel Liu, CEO of Republic Technologies, said Decrypt he supports the call for clarity, but cautions that “it is far more important that regulators proceed methodically and get it right rather than move too quickly and risk creating further confusion.”

“As long as the actions taken by an agency are clearly defined, I would not expect individual states to question or fragment the framework,” he added.

The letter comes as Trump’s CFTC nominee, Mike Selig, advances toward Senate confirmation following Wednesday’s hearing, during which he refused to commit to increasing the agency’s resources despite expected crypto oversight responsibilities.

Pressure for administrative action gained momentum Monday when proposed Treasury rules for international reporting of crypto taxes were submitted to the White House for review.

The rules would allow the IRS to get information on Americans’ foreign crypto accounts by joining the Crypto-Asset Reporting Framework, a global agreement under which countries automatically share information on citizens’ crypto holdings to combat tax evasion.

User sentiment on Myriad Markets indicates low approval of Trump’s performance as the 45th president, with only 44% of traders betting he is doing a good job.