The Digital Chamber, a blockchain advocacy group, is calling for a significant overhaul of the U.S. Securities and Exchange Commission's (SEC) approach to cryptocurrency regulation as the Trump administration prepares to take office in 2025.
The organization believes that establishing a culture of mutual trust between the SEC and the digital asset industry is crucial for the sector's future. The Digital Chamber emphasizes the importance of transparency and collaboration between the SEC and the industry, and it has criticized previous SEC policies such as the Staff Accounting Bulletin 121 (SAB 121) and the 2019 framework regarding the Howey test for digital assets.
The group is also urging the SEC to halt ongoing lawsuits that do not involve fraud or investor harm. In addition to SEC reform, the Digital Chamber is pushing for legislative action on stablecoins and opposes the reappointment of SEC Commissioner Caroline Crenshaw.
The organization's proposals reflect the industry's desire for a regulatory framework that encourages innovation while protecting investors. With the incoming Trump administration, there is optimism among stakeholders that the crypto sector will see the clarity and reform it has been seeking.