65 Crypto Organizations Call on Trump for Rapid Executive Action on Crypto Regulation

• Crypto groups press Trump for direct agency action to speed clarity on digital assets.
• Letter urges tax shifts, protocol guidance, and relief for open-source developers facing charges.

More than 65 crypto organizations have jointly appealed to President Donald Trump to use his executive authority to advance rules for digital assets. The signatories include Coinbase, Uniswap Labs, the Blockchain Association, and the Solana Foundation.

They submitted a letter to the White House urging swift decisions at the agency level instead of waiting  for Congress to act.

The industry-backed letter describes steps that the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Treasury Department, and the Department of Justice can take right away. The group says these steps could reduce long-running confusion and delays that have slowed the development of clear rules for the sector.

Although Trump has already supported pro-crypto measures, such as canceling the IRS broker rule and backing the Genius Act related to stablecoins, the signers believe federal agencies still have room to take steps that strengthen the United States’ role in the growth of digital assets.

Tax Relief Proposal for Staking Rewards

In tax-related requests, it has been suggested that rewards from staking and mining should be treated as “self-created property taxed upon disposition.” This implies that no tax would be charged until the reward is actually sold. This can reduce tax burden and provide relief for individual participants in the ecosystem.

The industry is also calling for tax rules to exclude small personal transactions from reporting requirements. They suggest exempting cases where the gain is under $600. They argue that this would reduce unnecessary tax reporting for minor crypto use in everyday transactions.

For developers, the letter suggests the SEC’s crypto task force should give temporary protection from enforcement actions. This would apply to developers of open-source, permissionless blockchain protocols. The aim is to shield them while the rules are still under consideration.

Push to Drop Case Tied to Tornado Cash

One of the most pointed demands involves the Justice Department’s case against Roman Storm, a developer of Tornado Cash. The letter calls for all charges to be dropped, stating that his work involved creating open-source software and did not constitute a financial crime. 

The issue shows a growing concern that developers who create privacy-focused tools are facing more criminal cases. This has come against the backdrop of various sentencing instances, including the Samourai Wallet case. People in tech circles now fear that publishing code could bring legal trouble.

The timing of the letter also aligns with new activity at the Treasury Department. As CNF reported, a proposed rule reached the White House on Monday that could expand international crypto tax reporting. 

If approved, the IRS would receive information about crypto held by US citizens in foreign digital wallets, in line with global standards under the Crypto Asset Reporting Framework (CARF).