Stablecoin rules needed in US before crypto tax reform, experts say

2 days ago 25

United States cryptocurrency regulations request much clarity connected stablecoins and banking relationships earlier lawmakers prioritize taxation reform, according to manufacture leaders and ineligible experts.

“In my view, taxation isn’t needfully the precedence for upgrading US crypto regulation,” according to Mattan Erder, wide counsel astatine layer-3 decentralized blockchain web Orbs.

A “tailored regulatory approach” for areas including securities laws and removing “obstacles successful banking” is simply a precedence for US lawmakers with “more upside” for the industry, Erder told Cointelegraph.

“The caller Trump medication is intelligibly each successful connected crypto and is taking steps that we could person lone dreamed astir a fewer years agone (including during his archetypal term),” helium said. “It seems apt that crypto regularisation volition beryllium capable to person it each and get overmuch much wide and rational regularisation successful each areas, including tax.”

Still, Erder noted determination are limits to what President Donald Trump tin execute done enforcement orders and regulatory bureau enactment alone. “At immoderate point, the laws themselves volition request to change, and for that, helium volition request Congress,” helium said.

Trump’s March 7 enforcement order, which directed the authorities to found a nationalist Bitcoin reserve utilizing crypto assets seized successful transgression cases, was seen arsenic a awesome of increasing national enactment for integer assets.

Debanking concerns remain

Despite the administration’s caller pro-crypto moves, manufacture experts accidental crypto firms may proceed to look difficulties with banking entree until astatine slightest January 2026.

“It’s premature to accidental that debanking is over,” arsenic “Trump won’t person the quality to name a caller Fed politician until January,” Caitlin Long, laminitis and CEO of Custodia Bank, said during Cointelegraph’s Chainreaction regular X show.

The Crypto Debanking Crisis: #CHAINREACTION https://t.co/nD4qkkzKnB

— Cointelegraph (@Cointelegraph) March 21, 2025

Industry outrage implicit alleged debanking reached a crescendo erstwhile a June 2024 suit spearheaded by Coinbase resulted successful the merchandise of letters showing US banking regulators asked definite fiscal institutions to “pause” crypto banking activities.

Stablecoin authorities could unlock caller growth

David Pakman, managing spouse astatine crypto concern steadfast CoinFund, said a stablecoin regulatory model could promote much accepted concern institutions to follow blockchain-based payments.

“Some of the perchance soon-to-pass authorities successful the US, similar the stablecoin bill, volition unlock galore of the accepted banks, fiscal services and outgo companies onto crypto rails,” Pakman said during Cointelegraph’s Chainreaction unrecorded X amusement connected March 27.

“We perceive this firsthand erstwhile we speech to them; they privation to usage crypto rails arsenic a lower-cost, transparent, 24/7, and nary middleman-dependent web for transferring money.”

The comments travel arsenic the manufacture awaits advancement connected US stablecoin legislation, which whitethorn travel arsenic soon arsenic successful the adjacent 2 months, according to Bo Hines, the enforcement manager of the president’s Council of Advisers connected Digital Assets.

The GENIUS Act, an acronym for Guiding and Establishing National Innovation for US Stablecoins, would found collateralization guidelines for stablecoin issuers portion requiring afloat compliance with Anti-Money Laundering laws.