Crypto Industry Urges Trump Administration for Immediate Regulatory Clarity

On November 20, 2025, a broad coalition representing over 65 organizations within the cryptocurrency sector and various advocacy groups issued a joint appeal directly to the President of the United States, Donald Trump. The central thrust of their communication was an urgent plea for the administration to leverage existing administrative powers held by federal agencies. The goal is the immediate issuance of guidance on critical issues concerning the taxation and regulation of digital assets, rather than waiting for Congress to pass comprehensive legislation.

Spearheading this significant industry push was the Solana Policy Institute. The coalition boasts participation from major market players, including Coinbase, Uniswap Labs, the Blockchain Association, and Exodus. These entities firmly assert that agencies such as the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), the Department of the Treasury, and the Department of Justice (DOJ) possess ample administrative tools at their disposal. These tools encompass issuing temporary clarifications, releasing 'no-action letters,' or granting specific regulatory exemptions. This coordinated pressure on the executive branch is explicitly designed to translate President Trump’s stated campaign priorities regarding cryptocurrency into tangible actions by the relevant agencies.

Regarding taxation, the coalition put forth several specific demands that they believe can be implemented without delay. Signatories are strongly advocating that income derived from staking and mining activities should be classified as 'self-created property.' Under this proposed framework, these earnings would only be subject to taxation upon the eventual sale of the assets, instead of being taxed immediately upon receipt. Furthermore, the group proposed establishing a de minimis threshold, set at approximately $600 USD, to exempt small transactions. They also seek clear definitions ensuring that routine operations—such as bridging, token wrapping, forks, airdrops, collateral movements, and liquidations—do not automatically constitute taxable events.

Running parallel to the tax discussions, the letter included a direct appeal to the Department of Justice concerning the ongoing prosecution of Roman Storm, one of the Tornado Cash developers. The industry stakeholders demanded that charges against Storm be dropped or substantially reviewed. This specific request highlights the sector's deep-seated concern that current enforcement actions could inadvertently criminalize the very act of software development. It is worth noting that in August 2025, a jury found Storm guilty on one count related to conspiring to operate an unlicensed money-transmitting business, though the jury could not reach a unanimous verdict on the more severe charges involving money laundering and sanctions violations.

This current mobilization builds directly upon recommendations previously outlined in the President’s Working Group on Digital Assets Report, which was released in July 2025. The coalition also referenced President Trump’s Executive Order issued on January 23, 2025. That order was instrumental in establishing the aforementioned Working Group and subsequently rescinding several restrictive regulations that had been in place. The industry views these administrative maneuvers as absolutely crucial for maintaining the competitive edge of the United States in the digital asset space, especially given the protracted timeline for enacting long-term legislation through Congress.

The participating organizations further implored the SEC to seriously consider adopting a 'Token Safe Harbor' framework, similar to the proposal championed by Commissioner Hester Peirce. Such a structure would grant development projects a three-year grace period to achieve full decentralization without the immediate pressure of securities registration. The Solana Policy Institute, founded by Miller Whitehouse-Levine, who previously served as the CEO of the DeFi Education Fund, has consistently championed the need for legal certainty for developers and users of decentralized networks. Consequently, this letter underscores the crypto sector's intense desire for immediate legal predictability and a reduction in regulatory uncertainty, which the signatories contend is currently stifling innovation.