65 Crypto Groups Urge Trump to Clarify Crypto Regulation, Taxes
Over 65 crypto and blockchain organizations—including Coinbase, Uniswap Labs, Pantera, the Blockchain Association, Solana Foundation and Paradigm—have sent a joint letter to President Trump urging immediate executive action to clarify crypto regulation and digital asset tax rules. The coalition asks key agencies—the SEC, CFTC, Treasury, FinCEN, FTC and DOJ—to: treat staking and mining rewards as self-created property taxed only upon sale or conversion; adopt a de minimis carve-out (e.g. $600) to exempt minor transfers; clarify that wrapping, bridging, cross-chain transfers, forks, airdrops, collateral moves and liquidations do not trigger tax events; issue no-action letters and launch regulatory sandboxes for permissionless protocol developers and self-custody services; restate that the Bank Secrecy Act does not apply to non-custodial software; and drop charges against Tornado Cash developer Roman Storm. The letter commends the administration’s reversal of the IRS Broker Rule and approval of the GENIUS Act, stressing that swift administrative guidance on crypto regulation and taxation is essential to reduce uncertainty, boost market confidence and maintain US leadership in digital assets as long-term rulemaking proceeds.
Bullish
Immediate executive guidance on crypto regulation and digital asset tax rules removes key uncertainties that have weighed on trading. In the short term, markets often react positively to reduced regulatory risk, lifting sentiment and trading volumes. Over the long term, clear rules, de minimis carve-outs and regulatory sandboxes will encourage project launches, deeper liquidity and institutional participation. Together, these factors create a bullish outlook for the crypto market.