Crypto Firms Push Trump to Direct Agencies on Stalled Regulatory Guidance

Over 65 crypto organizations have urged President Donald Trump to expedite regulatory clarity in the digital asset space via executive order. The organizations, including prominent names such as Coinbase and Uniswap Labs, outlined their demands in a letter to the White House. They seek clarity on key issues like tax treatment of staking rewards and safe harbors for decentralized finance (DeFi) developers. The letter emphasizes that federal agencies, such as the SEC and CFTC, can act without new legislation to enhance the U.S. standing as a hub for crypto innovation. Notably, they request that the Treasury Department treat staking and mining rewards as taxable only upon disposition, rather than as immediate income. Furthermore, they advocate for interim guidance to protect developers of open-source protocols from enforcement actions during ongoing regulatory discussions. The industry's push coincides with pending international crypto tax reporting rules at the White House, aimed at enhancing compliance regarding Americans’ foreign crypto holdings. This coordinated effort highlights increasing frustration among crypto advocates regarding the slow legislative pace and calls for decisive action from the administration.

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