Source: Cointelegraph.com NewsUnited States cryptocurrency regulations need more clarity on stablecoins and banking relationships before lawmakers prioritize tax reform, according to industry leaders and legal experts.
\n\u201cIn my view, tax isn\u2019t necessarily the priority for upgrading US crypto regulation,\u201d according to Mattan Erder, general counsel at layer-3 decentralized blockchain network Orbs.
\nA \u201ctailored regulatory approach\u201d for areas including securities laws and removing \u201cobstacles in banking\u201d is a priority for US lawmakers with \u201cmore upside\u201d for the industry, Erder told Cointelegraph.
\n\u201cThe new Trump administration is clearly all in on crypto and is taking steps that we could have only dreamed about a few years ago (including during his first term),\u201d he said. \u201cIt seems likely that crypto regulation will be able to have it all and get much more clear and rational regulation in all areas, including tax.\u201d
\nStill, Erder noted there are limits to what President Donald Trump can accomplish through executive orders and regulatory agency action alone. \u201cAt some point, the laws themselves will need to change, and for that, he will need Congress,\u201d he said.
\nTrump\u2019s March 7 executive order, which directed the government to establish a national Bitcoin reserve using crypto assets seized in criminal cases, was seen as a signal of growing federal support for digital assets.
\nRelated: Trump turned crypto from \u2018oppressed industry\u2019 to \u2018centerpiece\u2019 of US strategy
\nDebanking concerns remain
\nDespite the administration\u2019s recent pro-crypto moves, industry experts say crypto firms may continue to face difficulties with banking access until at least January 2026.
\n\u201cIt\u2019s premature to say that debanking is over,\u201d as \u201cTrump won\u2019t have the ability to appoint a new Fed governor until January,\u201d Caitlin Long, founder and CEO of Custodia Bank, said during Cointelegraph\u2019s Chainreaction daily X show.<\/p>\n
The Crypto Debanking Crisis: #CHAINREACTION https:\/\/t.co\/nD4qkkzKnB\u2014 Cointelegraph (@Cointelegraph) March 21, 2025<\/p>\n
Industry outrage over alleged debanking reached a crescendo when a June 2024 lawsuit spearheaded by \u200b\u200bCoinbase resulted in the release of letters showing US banking regulators asked certain financial institutions to \u201cpause\u201d crypto banking activities. Source: Cointelegraph.com NewsUnited States cryptocurrency regulations need more clarity on stablecoins and banking relationships before lawmakers prioritize tax reform, according to industry leaders and legal experts. \u201cIn my view, tax… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126092"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126092"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126092\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126092"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nRelated: Bitcoin may benefit from US stablecoin dominance push
\nStablecoin legislation could unlock new growth
\nDavid Pakman, managing partner at crypto investment firm CoinFund, said a stablecoin regulatory framework could encourage more traditional finance institutions to adopt blockchain-based payments.
\n\u201cSome of the potentially soon-to-pass legislation in the US, like the stablecoin bill, will unlock many of the traditional banks, financial services and payment companies onto crypto rails,\u201d Pakman said during Cointelegraph\u2019s Chainreaction live X show on March 27.
\n\u201cWe hear this firsthand when we talk to them; they want to use crypto rails as a lower-cost, transparent, 24\/7, and no middleman-dependent network for transferring money.\u201d
\nThe comments come as the industry awaits progress on US stablecoin legislation, which may come as soon as in the next two months, according to Bo Hines, the executive director of the president\u2019s Council of Advisers on Digital Assets.
\nThe GENIUS Act, an acronym for Guiding and Establishing National Innovation for US Stablecoins, would establish collateralization guidelines for stablecoin issuers while requiring full compliance with Anti-Money Laundering laws.
\nMagazine: SEC\u2019s U-turn on crypto leaves key questions unansweredRead More<\/a><\/p>","protected":false},"excerpt":{"rendered":"