Last week, through the executive order, President Trump took an important step towards reshaping the future of digital assets by establishing an encryption board led by the investor and businessman David Sachs. This is the executive, along with The last opposite of SAB 121 -The confidentiality policy that made it difficult for banks to obtain encryption assets is explained-that the new administration is serious in removing barriers in front of encryption adoption.
This council represents a golden opportunity to retract the great damage to the encryption industry during the Biden administration. Instead of organizational hostility, the Trump Exoding Council can help draw a road towards responsible innovation and control, and most importantly, to protect customers and retailers who helped him win the elections.
While the participation of major encryption companies such as Coinbase, A16z and Ripple is very important, the council should not be composed of industry giants only. For a very long time, retail investors, the backbone of the encryption revolution, explicitly or attacked them, were not only ignored by the world’s Sam Bankman-ERIRIDS but by the same organizational agency designed to protect them. If the new administration is serious in enhancing a fair and effective encryption policy, it must include a voice for the daily Americans.
The need to represent a retail sale
During the past four years, the Biden administration, through officials such as Senator Elizabeth Warren and former Securities Council President Gary Ginsler, launched an unfair war against the encryption industry. ChokePoint 2.0 It has been proven to be a coordinated effort to reduce encryption companies from the banking system, restricting access to basic financial services. Innovation has paralyzed in the United States, which led to the transmission of clients and retail investors abroad to the hands of Bankman-Ried. He left the Jinsler Organization’s approach to enforcing entrepreneurs and investors alike to move in an unexpected and hostile organizational environment.
I saw how these reckless policies have been hurt by retail investors. As a Bono lawyer, I represented 75,000 XRP holders in Ripples Thousands of certificates from the retail investors that Judge Anjia Torres cited at the end In its historical decision. I also worked as an amicus consultant in other critical cases, including Blame and CoinbaseDefense for those who lack the resources needed to pressure Congress or fight against government transcendence.
The newly created encryption council should not make a mistake in becoming an exclusive club for the elite industry. It should include defenders of retailers and people who were in trenches and understand the real consequences of politics decisions. It is one thing that can be spoken in abstract phrases about the market structure and innovation. It is to stand by the individuals whose financial future depends on fair and transparent regulations.
A legislative plan for success
While the national conversation recently focused on things like a Bitcoin strategic reservesThis administration has a single time opportunity in the generation to pass meaningful encrypted legislation that enhances growth while ensuring investor protection. He should act quickly because the mid -term renewal elections will be here before we know them.
Several major priorities must be addressed:
1. Stablecoin Legislation. Create a framework that pays the demand for US Treasury bonds while reducing friction and fees for the border payments, allowing the nails to serve as reliable financial tools for global trade and integration.
2. Market structure repair. Granting a clear authority to CFTC to oversee digital assets while creating final guidelines when the code is a security, and therefore, governed by the Supreme Education Council.
3. Central exchange control. It requires a central exchange of clinic boxes, and prevent any success with companies’ assets; Providing legislation to ensure customer funds are lawful in bankruptcy procedures, which can never be treated as assets of the bankrupt entity; Extending exchanges to maintain 100 % reserves; Prohibition of rehabilitation of customer boxes, preventing hidden risks and infection in industry; And impose restrictions and ensure financial trading to prevent retail investors from eliminating excessive risks.
5. Reform of tax policy. Unlike old policies that deal with encryption as a currency as a taxable event. Daily small transactions should not lead to capital gains.
An invitation to comprehensive management
The encryption board will be effective as the votes it includes. If it becomes just another gathering of executives in this field and adventure capitalists, it will fail in its mission to create a fair and comprehensive policy.
Retail investors and those who use digital assets for payments, transformations, savings and investment are worth a seat on the table. They are not only the stakeholders in this industry, but they are also voters who played a pivotal role in electing this administration in his position. Priority must be given to their interests, not only the interests of strong institutions.
As a person who devoted my career to fight for ordinary Americans, I urge David Sachs, Po Heins, and the administration to ensure that the encryption board represents all votes, not only higher and richer. If we get this right, we can create the United States as a global pioneer in creating digital assets while protecting the rights of people who make this industry possible.
The clear regulations that can be predicted will not only help retail investors, but also to push innovation and economic growth in the United States for a very long time, and promising encryption projects abroad have escaped due to organizational uncertainty. A well -designed legal framework will restore these creators, ensuring that the United States remains at the forefront of financial technology.
This is our opportunity to build a framework that enhances confidence, fairness and economic opportunity while embracing the first American agenda. Please, let’s not waste it.
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