Trump Administration Set to Accelerate Crypto Regulation, Says Coinbase’s Policy Chief
Faryar Shirzad, Coinbase’s policy boss, believes that America’s crypto regulation is on the brink of significant progress under Donald Trump’s return to the Oval Office. Speaking at a U.K. event hosted by Stand With Crypto, a group backed by Coinbase, Shirzad praised Trump as the most pro-crypto leader in history. He noted, “We have the most pro-crypto Congress ever,” pointing to the Republican majority in both the House and Senate.
With Trump and his allies at the helm, Shirzad anticipates that long-awaited crypto bills will finally gain traction. This could be a turning point for the 50 million Americans who hold crypto assets, as their interests may finally be taken seriously in Washington.
Key Legislation on the Horizon
Congress is already working on two crucial crypto bills that could reshape the regulatory landscape for digital assets in the U.S. The first is the Financial Innovation and Technology for the 21st Century Act, which outlines regulations for managing crypto assets—a much-needed development for the industry. This bill has already passed the House, paving the way for smoother progress under the new administration.
The second bill, known as the Clarity for Payment Stablecoins Act, focuses on regulating stablecoins. Establishing a licensing system for stablecoin issuers could provide a solid framework for these essential tokens within the broader crypto ecosystem.
Crypto’s Growing Influence and Gensler’s Departure
Trump’s victory signals a significant win for the crypto industry, backed by substantial financial support. Crypto-related political action committees raised over $245 million during the election cycle, funding campaigns and bolstering the presence of pro-crypto lawmakers in Congress.
Coinbase’s Stand With Crypto Alliance played a key role in evaluating candidates based on their stance on crypto, resulting in a Congress more receptive to industry input.
Additionally, Gary Gensler, the outgoing SEC chair known for his tough stance on crypto, is set to depart on January 20. While Shirzad refrained from speculating on Gensler’s successor, he expressed optimism that Trump’s pick will align with the administration’s vision for the industry.
Interested in a High-Paying Web3 Career? Learn How to Land Your Dream Job in 90 Days!