66 Crypto Organizations Urge Trump for Immediate Tax Clarity and Developer Protections

A coalition of 66 cryptocurrency organizations, including tax software provider CoinTracker and the Solana Policy Institute, delivered a letter to President Donald Trump on November 20, urging immediate federal agency action to establish clear rules and forward-thinking policy for digital assets. The group emphasized that these steps are crucial to strengthen America’s leadership in the rapidly evolving crypto sector. As CoinTracker stated in a social media post, they are "Proud to join @SolanaInstitute and more than 65 coalition partners in signing a letter to @POTUS urging immediate steps to keep the U.S. the best place in the world to build in crypto."

The comprehensive letter outlined specific demands for tax clarity, primarily requesting that the Treasury and IRS treat staking and mining rewards as self-created property, taxed only when sold. Additional tax proposals include clarifying that bridging and wrapping tokens are non-taxable events, applying small-transaction exemptions for purchases up to $600, and updating charitable giving rules for digital assets to remove burdensome appraisal requirements.

Beyond taxation, the coalition pressed for crucial developer protections and regulatory certainty. They urged the Department of Justice to dismiss all charges against Tornado Cash developer Roman Storm, arguing that his work involved open-source software and not a financial crime. The letter also called on the SEC and CFTC to publish rules protecting Americans’ right to self-custody and to adopt safe harbor frameworks for token projects, allowing them a three-year period to decentralize without immediate securities registration.

These demands align with recommendations from President Trump's own July 2025 Working Group Report on digital assets, which established the policy goal of making the United States the "crypto capital of the world." The coalition believes that swift executive action, without requiring congressional approval, is necessary to foster innovation and prevent the US from falling behind other nations in blockchain development.

CoinTracker, founded in 2017 by Jon Lerner and Chandan Lodha, plays a significant role in the crypto ecosystem by simplifying tax reporting and portfolio tracking for over 2.5 million users globally. The company, valued at $1.3 billion after a $100 million Series A funding round, tracks over $50 billion in assets and partners with major industry players like Intuit's TurboTax and Coinbase, underscoring its direct interest in clear tax guidance.

The Solana Policy Institute, a non-partisan, non-profit organization established in 2025 and led by CEO Miller Whitehouse-Levine and President Kristin Smith, spearheaded the initiative. The Institute focuses on educating policymakers about decentralized networks like Solana and advocating for tech-neutral policies, market structure clarity, and developer protections. Their "Project Open" proposal to the SEC, for instance, seeks a pilot program for tokenized securities, showcasing their commitment to fostering innovation within regulatory frameworks.

The unified voice of 66 crypto organizations signals a critical moment for digital asset regulation in the United States. By pushing for immediate and actionable policy changes, the coalition aims to create a stable and predictable environment that encourages innovation, protects participants, and solidifies America's position as a global leader in the digital economy.