Crypto Industry Demands Trump Act on Tax Clarity and Developer Protections

Over 65 crypto organizations have urged President Trump for immediate regulatory and tax clarity, developer protections, and the dismissal of charges against Tornado Cash developer Roman Storm.

More than 65 cryptocurrency organizations, including major industry players, have sent a letter to President Donald Trump urging immediate regulatory and tax clarity for the crypto sector. The coalition, led by the Solana Policy Institute, calls for clear rules on the taxation of staking and mining rewards, treating them as self-created property taxed upon sale, and requests clarification that bridging and wrapping tokens are non-taxable events. The letter also seeks small-transaction exemptions, updates to charitable giving rules, and temporary legal protections for DeFi developers. The organizations urge the Department of Justice to dismiss charges against Tornado Cash developer Roman Storm, arguing that developing open-source software should not be prosecuted. The signatories emphasize the need for coordinated action among federal agencies, including the SEC, IRS, CFTC, and Treasury, to ensure the US remains competitive in digital finance and to provide developers with protection and neutrality. The coalition stresses that current regulatory uncertainty hinders innovation and puts US-based crypto businesses and users at risk.