Crypto Regulation Set for Quick Passage with Trump in Office, Says Coinbase Exec
Key Takeaways:
- Faryar Shirzad expects fast movement on digital assets legislation after Trump takes office.
- The pro-crypto Congress and Trumps support are key to passing legislation.
- Shirzad remains optimistic about stablecoin and market structure bills in 2025.
Faryar Shirzad, Chief Policy Officer at Coinbase, is very optimistic about the outlook of cryptocurrency legislation in the U.S. under a Trump administration. In an interview recently, he had said that digital assets regulation would be fast-tracked in Congress with Donald Trump as president and the Republican Party in control of the House and Senate.
Shirzad stressed that some important digital assets legislation may get passed in the next couple of years and that the pro-crypto Trump administration would be at the forefront of the legislative push. We have the most pro-crypto Congress ever, he said, citing the combination of political will and a clear pro-crypto agenda.
Stablecoin and Market Structure Bills in Progress
This has been a couple of the big legislative pieces moving through Congress. First, the Financial Innovation and Technology for the 21st Century Act would put into place a legal framework for digital assets. It has already moved through the House of Representatives.
While the second, the Clarity for Payment Stablecoins Act, deals with the regulation for issuers of stablecoins and ensuring that the rules are followed in the space for digital currency. The bill for the stablecoin has not passed a vote in the House, though Shirzad remains hopeful the bills will pass in 2025 and mark the first major regulation for the industry.
Cryptos Growing Political Influence
The digital assets industry has increasingly made its presence felt in the political arena, with crypto PACs and advocacy groups raising substantial funds to support candidates aligned with pro-crypto policies. Data shows these groups have raised over $245 million to back political campaigns.
Shirzad added that close to 300 lawmakers friendly toward digital assets will be sworn into the next Congress, a factor that speaks to the growing clout of the crypto sector-not just in legislation, but in shaping the political landscape.
With Trump now preparing to take over the presidency, his nominees for various positions, including the replacement for SEC Chair Gary Gensler, would be sure to continue in this vein by setting a solid base for digital assets future in the US.
Related Reading | Altcoins Eye for December Rally As Bitcoin Dominance Breaks 2-Year Support
Read more: https://www.tronweekly.com/crypto-regulation-set-quick-passage-with-trump/
Text source: TronWeekly
