- Over 70 crypto organizations request immediate regulatory action from Trump.
- Letter outlines tax clarity needs, including staking rewards and de minimis rules.
- Industry seeks DeFi safe harbors and dismissal of charges against Tornado Cash developer.
Over 70 cryptocurrency and blockchain organizations have sent a letter to President Donald Trump requesting immediate regulatory clarification across multiple government agencies. The November 20, 2025, letter, led by the Solana Policy Institute, shares specific actions agencies can take to complement legislative efforts.
The organizations stated that the Trump Administration and Congress have created opportunities for crypto investors, users, and builders during the first year of the presidency. From the nullification of the IRS Broker Rule and the passage of the GENIUS Act to the rescission of the 2022 Department of Labor guidance on digital assets in 401(k) plans, the industry is working to secure market structure legislation.
The letter requests Treasury Department action to revise guidance related to digital asset mining and staking rewards, treating them as self-created property taxed upon disposition. Organizations seek IRS confirmation that bridging, wrapping/unwrapping, and cross-chain burn/mint are nonrecognition events that do not create economic gain.
The coalition requests clarification on airdrops, forks, and rebase events to prevent phantom income. Organizations want clear rules for collateral and liquidations, confirming that pledging collateral is not a taxable event.
The letter seeks the application of de minimis tax rules to digital currencies to exclude gains used to purchase goods and services up to $600 per transaction. Organizations request updated charitable giving rules treating donations as “readily valued property” exempt from appraisal requirements.
Industry participants want clarification that digital assets are commodities for foreign persons trading in the United States. The letter seeks confirmation that blockchain infrastructure, cryptographic engineering, and smart contract development fall within qualified research for R&D tax credits.
DeFi Protections and Developer Rights Emphasized
The organizations encourage the SEC’s Crypto Task Force to issue interim guidance clarifying that developers of source-available, permissionless protocols are not subject to enforcement during rulemaking. The letter urges the SEC and CFTC to embrace self-custody as an administration policy and issue protective guidance.
Industry seeks safe harbors and sandboxes for DeFi projects and developers to launch tokens and protocols, including through web interfaces. Organizations reference SEC Commissioner Hester Peirce’s Token Safe Harbor Framework as a model.
The letter emphasizes the need for the SEC and CFTC to provide exemptive relief for digital assets and DeFi technology. Organizations request that FinCEN issue updated guidance clarifying Bank Secrecy Act does not apply to noncustodial blockchain software, consistent with 2019 guidance.
The coalition urges the Department of Justice to mirror Section 230 protections for DeFi technology developers on civil liability matters. Organizations request dismissal of charges against Roman Storm and support for overturning his conviction.
Related: If Trump Sends $2,000 Checks, Crypto Might Explode Again
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Source: https://coinedition.com/crypto-firms-call-on-trump-administration-for-regulatory-clarity-in-major-letter/
