With a president and Congress that support cryptocurrencies, Coinbase’s policy director expects cryptocurrency legislation to be enacted “fairly quickly” under President Trump’s leadership.
Coinbase’s chief policy officer expects U.S. cryptocurrency regulation to progress quickly once Donald Trump takes office in January 2025.
In an interview with CNBC on December 2, Coinbase Chief Policy Officer Faryar Shirzad said cryptocurrency legislation would likely move through Congress “fairly quickly” after President Trump takes office, given the Republican president-elect’s strong support. He pointed out his stance in support of cryptocurrency and the party’s recent policies. Controls both the House and Senate.
“We have the most pro-crypto Congress ever and a very pro-crypto president. “This combination will allow the 50 million Americans who own cryptocurrency to have their interests reflected in policy.”
Fariyar Shirzad
CNBC points out that Shirzad’s comments are consistent with two important cryptocurrency-related bills making their way through Congress: the 21st Century Financial Innovation and Technology Act and the Clarity on Payments Stablecoins Act.
The first passed the House of Representatives earlier this year, aiming to establish a legal framework for cryptocurrencies, while the second seeks to regulate stablecoin issuers but has yet to be approved by the House of Representatives.
Shirzad expressed optimism that the bill would pass, but acknowledged it was unlikely to be considered in the current “lame duck” session. He expects 2025 to see significant progress in both market structure and stablecoin notes.