The cryptocurrency industry is escalating its campaign for regulatory clarity, urging President Donald Trump to use executive authority to bypass legislative gridlock and direct federal agencies to issue long-awaited guidance. The coordinated push, led by more than 65 firms across the digital asset landscape, marks one of the most concerted attempts yet to shift U.S. crypto policy through administrative action rather than congressional reform. It reflects mounting frustration among developers, exchanges, and investors who argue that regulatory ambiguity is stifling innovation and investment at a time when global competition for crypto leadership is intensifying.

A Unified Industry Push for Immediate Executive Action

The letter delivered to the White House includes signatories such as Coinbase, Uniswap Labs, the Blockchain Association, and the Solana Foundation, all of whom argue that U.S. regulators already possess substantial rulemaking authority. They contend that directives from the Oval Office could compel agencies—including the Securities and Exchange Commission, Commodity Futures Trading Commission, Treasury Department, and Justice Department—to provide the clarity that Congress has repeatedly failed to deliver.

While the industry acknowledges recent policy victories, including the overturning of the IRS Broker Rule and passage of the GENIUS Act for stablecoin oversight, it argues that these incremental steps fall short of what is required to position the United States as a global crypto hub. The ask is ambitious: redefine how staking and mining are taxed, clarify the treatment of cross-chain transactions, shield open-source protocol developers from enforcement, and restrict the application of financial-crime rules to non-custodial software.

Regulatory Ambiguity and Enforcement Tensions

A central theme of the letter is the need for predictability. Developers of permissionless protocols remain uncertain whether their work will trigger SEC enforcement based on evolving interpretations of securities law. The industry is seeking temporary safe harbor-style guidance from the SEC while broader rulemaking is underway, arguing that fear of punitive action is discouraging innovation.

Another flashpoint involves the Justice Department’s prosecution of open-source software developers. The letter explicitly calls for the DOJ to dismiss charges against Tornado Cash developer Roman Storm, who was convicted for his involvement in a privacy-focused coin mixer. The case has become emblematic of the industry’s concerns that creativity in code is being conflated with participation in money-transmitting activities. Similar anxiety surrounds the arrests of Samourai Wallet developers, reinforcing what many in the crypto world view as a widening gap between regulation and technological reality.

Taxation, Global Alignment, and Administrative Levers

On the tax front, the industry advocates a shift to treating staking and mining rewards as taxable only upon disposal, rather than at receipt—an interpretation many see as more compatible with decentralized network mechanics. Additional requests for de minimis exemptions and clarification of cross-chain activity reflect the need for tax rules that align with how blockchain transactions actually function.

The timing is critical. Proposed Treasury rules on international crypto tax reporting have reached the White House, signaling that the administration is already considering consequential updates. These rules would place the United States within the global Crypto-Asset Reporting Framework, allowing the IRS to access foreign crypto account data and tightening oversight of offshore activity.

Political Outlook and Market Reaction

The industry’s appeal lands at a moment when the regulatory burden on agencies is expanding. Trump’s CFTC nominee, Mike Selig, offered no commitments to increasing the commission’s resources during his Senate hearing, raising questions about the feasibility of expanded oversight. Meanwhile, trader sentiment on prediction platform Myriad Markets shows only 44% approval of Trump’s performance, suggesting that crypto-aligned voters may expect concrete results from his pro-industry rhetoric.

As agencies weigh new responsibilities and global competition accelerates, the coming months will reveal whether executive power can meaningfully transform U.S. crypto regulation—or whether slow institutional processes will once again temper the industry’s ambitions.