With a pro-crypto president and Congress, Coinbase’s policy head foresees crypto laws being enacted “fairly quickly” under Trump’s leadership.
Coinbase‘s top policy executive expects U.S. cryptocurrency regulations to move quickly once Donald Trump assumes the presidency in January 2025.
In an interview with CNBC on Dec. 2, Coinbase’s chief policy officer Faryar Shirzad said that crypto legislation will likely progress “fairly quickly” through Congress after Trump takes office, pointing to the Republican president-elect’s strong pro-crypto stance and the party’s recent control of both the House of Representatives and the Senate.
“We have the most pro-crypto Congress ever and an extraordinarily pro-crypto president. This combination should allow the 50 million Americans who own crypto to have their interests heard in policy.”
Faryar Shirzad
CNBC notes that Shirzad’s comments coincide with two significant pieces of crypto-related legislation advancing through Congress: the Financial Innovation and Technology for the 21st Century Act and the Clarity for Payment Stablecoins Act.
The first aims to establish a legal framework for cryptocurrencies and passed the House earlier this year, while the second seeks to regulate stablecoin issuers but has not yet been approved by the House.
Shirzad expressed optimism that the bills will pass, though he acknowledged the chance of consideration in the current “lame duck” session is low. He expects major progress on both the market structure and stablecoin bills in 2025.