Crypto coalition calls on Trump to direct federal agencies to expedite stalled tax and regulatory guidance
Over 65 crypto organizations urged President Trump to order agencies to issue overdue digital asset tax guidance.Summary
More than 65 cryptocurrency organizations, including the Solana Policy Institute, Exodus, Mysten Labs, and Uniswap Labs, sent a letter to President Donald Trump requesting he direct the Treasury Department and the IRS to issue long-overdue digital asset tax guidance, citing regulatory clarity as a top priority amid legislative stagnation. The recommendations align with those from the President's Working Group Report on Digital Assets. Specifically, the coalition asked Trump to direct the IRS to adopt de minimis tax rules, such as a $600 threshold, and for the Treasury to clarify that staking and mining rewards are self-created property taxed upon disposition. Furthermore, the groups requested Trump urge the DOJ to dismiss charges against Tornado Cash developer Roman Storm to reaffirm commitments to developers and free speech protections for code. They also asked for the SEC and CFTC to issue exemptive relief to protect decentralized finance.
(Source：The Block)