non-profit cryptocurrency advocacy organization Coin Center has warned that despite Trump's victory being a net positive for the cryptocurrency industry, entrenched policies could still scare cryptocurrency innovators away from the United States. In a blog post analyzing the cryptocurrency policy landscape in the United States after the 2024 election on November 21, Coin Center's research director Van Valkenburgh shared three "serious threats" that cryptocurrency users and developers in the United States will face after entering 2025. The first major threat comes from the cryptocurrency reporting requirement of Section 6050I of the US tax law, which currently requires anyone who receives $10,000 in cryptocurrency to report to the IRS unconditionally. Last August, Coin Center believed that these reporting requirements were unconstitutional. The second and third major threats come from sanctions against Tornado Cash and criminal charges of unlicensed money transmission against the mixing service company and Samourai Wallet. Coin Center stated that the charges against Tornado Cash founder Roman Storm could set a worrying precedent for non-regulated cryptocurrency services developers.
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Coin Center: Despite Trump's victory, US policies may scare off crypto investors
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