Letter Urges Trump to Advocate for Crypto Market Reforms – BitRss

In a letter addressed to the newly elected President Donald Trump, the author expresses hope that the incoming SEC chairman will implement necessary reforms for cryptocurrency market regulations in the United States.

Current Regulations and Issues

While other countries establish clear regulations for cryptocurrency entrepreneurship, U.S. lawmakers and regulators have been reluctant to modernize in this area. This hesitance has resulted in the SEC, under the leadership of Gary Gensler, taking legal actions against crypto companies and projects without allegations of fraud or investor losses.

The author proposes an Executive Order that Trump could issue on his inauguration day. This order would require federal agencies to halt all investigations and sanctions related to crypto companies and to end these processes without valid reasons.

Expected Outcomes

The proposed Executive Order is anticipated to reverse the negative impact experienced in the crypto asset sector and assist America in regaining a leadership position in the crypto economy. It is noted that existing sanctions hinder the sector’s development and leave it behind in international competition.

“This Executive Order could be…