Through the presidential decree last week, President Trump took an important step in reconstructing the future of digital assets by establishing a cryptographic council led by investors and entrepreneurs, David Sax. This presidential order is an inappropriate policy that the bank has made it difficult for banks to detain cryptographic assets in combination with the recent reversal of SAB 121, but the new administration removes barriers to the recruitment of encryption. Indicates that it is serious.
The council offers a great opportunity to cancel the serious damage given to the cryptographic industry between the Biden administration. Instead of regulatory hostility, Trump's Council's Crypto Council has innovated, responsible surveillance, and the most important thing to protect his customers and retail investors who helped him to win the election. Useful for drawing.
The involvement of major cipher companies such as Coinbase, A16Z, and Ripple is important, but the council should not be composed only by the industry giants. For a long time, retail investors, which are the backbone of the cryptographic revolution, have been ignored, exploited, or exploited by regulatory organizations designed to protect them as well as the world's Sambankman Fried. I've been doing it. If the new administration is serious about promoting fair and effective encryption policies, it must include voices for everyday Americans.
Need for retail representatives
For the past four years, the Biden administration has unfolded wars with the Citizenship Society, such as Senator Elizabeth Warren and former SEC Chair Gary Gensler. The chalk point 2.0 has proved to be a adjusted effort to separate encrypted companies from the banking system, and has restricted access to essential financial services. It made the US innovation inconvenience and handed offshore to customers and retail investors to the bankers. With each Gensler regulation approach, entrepreneurs and investors have left an unpredictable and hostile regulatory environment.
I directly witnessed how these reckless policies hurt retail investors. As a lawyer working in a professional bono, I am a lipple case on behalf of the 75,000 XRP holders and finally quoted by the judge Analisa Torres in the decision of her landmark. The statement has been submitted. He has also been an advisor to Amicas in other important incidents, such as LBRY and Coinbase, and has stood up for those who lack the resources for the parliament and lack the resources for the government to fight back.
The newly established Crying Council must not make a mistake to become an exclusive club for industrial elites. It is necessary to understand the results of the real world of policy decisions, including the supporters of the retail investors and the supporters of TRENCH. It is one of the abstract terms about market structure and innovation. It is another thing that financial futures stand with individuals who depend on fair and transparent regulations.
Legal blue photo for success
Nationwide conversations have recently focused on strategic bitcoin reserves, but this administration passes through a meaningful cryptographic law that promotes growth while securing investors. I have the opportunity. Before we know, the medium election is here, so it must act quickly.
You need to deal with some important priority.
1. Stubcoin method. While creating a framework that promotes the demand of the US Treasury, we will reduce the friction and price of payment across borders, and will function as StableCoins as a reliable financial tool for global commerce and inclusion.
2. Market structural reform. While granting a clear authority to the CFTC to supervise digital assets, the token configures security and thus establish a decisive guideline of the time when it is dominated by the SEC.
3. Intensive exchange monitoring. Requires intensive exchange to separate customer funds and prevent mixed with corporate assets. Introducing laws to guarantee that customer funds are legally protected in bankruptcy proceedings, so that they are not treated as bankruptcy companies. We oblige exchanges to maintain 100 % reserves. Prohibit the redovers of customer funds and prevent hidden risks and transmissions in the industry. In order to prevent retail investors from being wiped out by excessive risks, leverage trading imposes restrictions and protection means.
5. Tax policy reform. An old policy that is treated as a currency as a currency. Small daily transactions should not cause capital gain tax.
Call for comprehensive governance
The Crying Council is as effective as the voice included in it. If it is a mere gathering of an industry executive and a venture capitalist, you will fail to create a fair and comprehensive policy.
For retail investors and those who use digital assets for payment, remittance, savings, and investment, worth the table. They are not only stakeholders in this industry, but also voters who played a very important role in selecting this administration as a job. Not only the interests of powerful institutions, but also their profits must be given priority.
As a person who has dedicated my career to fight for everyday Americans, I am not only david saxophone, Bohehins, and the government, not only loud and wealthy, but all voices Encourage to guarantee that Correctly, you can establish the United States as a global leader of digital asset innovation while protecting the rights of people who enable this industry.
Clear and predictable regulations not only support retail investors, but also promote US innovation and economic growth too long. The appropriately designed legal frameworks regain these innovators and guarantee that the United States will be at the forefront of financial technology.
This is a chance to build a framework that promotes trust, fairness, and economic opportunities while accepting US first agendas. Don't waste it.
