The United States could see rapid progress on cryptocurrency regulation under President-elect Donald Trump, according to Coinbase Chief Policy Officer Faryar Shirzad.
Coinbase Policy Head Predicts Rapid Crypto Regulation Under Trump Administration
Shirzad expressed optimism that crypto-friendly legislation backed by a Republican-controlled Congress will move forward quickly after Trump takes office in January.
Shirzad emphasized that Trump's strong pro-crypto stance and the GOP's majority in both the House and Senate are crucial to advancing the legislation.
“We have the most pro-crypto Congress in history, and we have an extraordinarily pro-crypto president coming into office,” Shirzad said at an event in the UK hosted by Coinbase-backed advocacy group Stand With Crypto.
With over 50 million Americans owning cryptocurrencies, Shirzad believes the alignment of pro-crypto leadership will ensure their voices are finally heard in policymaking.
Two critical bills are currently under consideration:
Financial Innovation and Technology for the 21st Century Act: A Republican-backed bill that aims to create a comprehensive legal framework for digital assets. This bill has already passed the House of Representatives.
Clarity for Payment Stablecoins Act: This bill, which focuses on licensing stablecoin issuers, has not yet been voted on in the House of Representatives.
While Shirzad acknowledged that the chances of passing these bills during the post-election “lame duck” session are slim, he expects significant progress in 2025.
*This is not investment advice.
