More than 20 cryptocurrency industry lawyers issued an open letter, offering advice and suggestions to the Trump administration on creating a legal environment conducive to the development of cryptocurrency.
The letter pointed out that the negative attitude of US regulators towards digital assets and blockchain has led to a poor business environment and talent outflow. In order to achieve the goal of the United States becoming the world's cryptocurrency capital, the lawyers recommend the implementation of three major policies: support US companies, clarify the scope of SEC and CFTC supervision, and promote legislation in areas such as stablecoins, TradFi integration, and DeFi; promote crypto innovation, respect crypto values such as privacy, disintermediation, and decentralization, and treat cryptocurrencies and traditional assets equally; create a good business environment, end the de-banking of crypto companies, improve SEC rule-making and enforcement, cancel punitive tax rules, and reduce unnecessary red tape.
Lawyers encourage the government and industry leaders to negotiate, using regulatory sandboxes to reduce risk, seizing the opportunity to establish global regulatory leadership, and contributing to the prosperity of the American economy.
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