CandleFocus TradFi coalition urges Trump to overhaul 'restrictive' Biden-era crypto policies
2025-02-25
Author: Content Editor
Leading financial industry groups are urging the Trump administration to reverse federal policies that they claim have restricted US banks from participating in digital asset markets. They argue that regulatory overreach is hindering American leadership in financial innovation. The groups have sent a letter to David Sacks, the chair of the President's Working Group on Digital Asset Markets, calling for the rescission or revision of policies imposed by federal banking agencies. They also request the inclusion of key regulators, such as the Federal Reserve and the Federal Deposit Insurance Corporation, in the working group's efforts to reshape the US digital asset framework. The groups claim that restrictive policies have put US banks at a disadvantage compared to international competitors in the digital asset sector. They aim to provide detailed proposals to help US banks regain competitiveness and have requested a meeting with Sacks and the working group to discuss next steps.
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