What are you searching for ?

Business

Coinbase Policy Chief Predicts Rapid Crypto Regulation Under Trump Administration

Coinbase Policy Chief Predicts Rapid Crypto Regulation Under Trump Administration
 

Faryar Shirzad, Chief Policy Officer at Coinbase, expressed optimism about the future of cryptocurrency regulation in the United States. Shirzad believes that the U.S. is poised for swift progress on crypto legislation following Donald Trump’s election as the next president. With the Republican Party securing a governing trifecta—control of the White House, Senate, and House of Representatives—Shirzad anticipates a favorable environment for crypto-related laws to advance.

 

A Pro-Crypto Administration and Congress

Shirzad described the incoming Congress as “the most pro-crypto Congress ever in history.” Combined with President-elect Trump’s well-known pro-crypto platform, this political alignment is expected to fast-track key legislation aimed at providing clarity and structure to the crypto industry. Shirzad stated, “I think the combination should finally allow the 50 million Americans who own crypto to have their interests and voice heard in policy.”

Two significant pieces of legislation are currently making their way through Congress:

  1. The Financial Innovation and Technology for the 21st Century Act: This Republican-sponsored bill seeks to establish a legal framework for digital assets and has already passed in the House of Representatives.
  2. The Clarity for Payment Stablecoins Act: This bill aims to regulate the issuance of stablecoins, which are digital assets pegged to fiat currencies like the dollar. However, it has yet to pass a House vote.

While there is only a “small” chance that these laws will be enacted during the “lame duck” session before Trump’s inauguration, Shirzad remains optimistic about their eventual passage, projecting significant progress in 2025.

 

The Role of Crypto Lobbying

Trump’s victory marks a major milestone for the cryptocurrency industry, which has invested heavily in political advocacy. Crypto-related political action committees (PACs) and other industry groups raised over $245 million during the election cycle, according to Federal Election Commission data. Coinbase-backed advocacy group Stand With Crypto Alliance further strengthened the industry’s influence by grading lawmakers based on their stance on crypto issues. Nearly 300 pro-crypto candidates won seats in the House and Senate, signaling a shift toward more favorable legislative conditions for the industry.

 

A New Era for the SEC

Another important development is the resignation of U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, who will step down on January 20, the day of Trump’s inauguration. Gensler, known for his tough stance on crypto regulation, had been a polarizing figure in the industry. Shirzad noted that while it is unclear who Trump will nominate as the next SEC chair, he expects the president-elect to choose someone aligned with his pro-crypto vision. “I think as long as he picks somebody who’s a change agent and who shares his vision, I think it’ll be good for the U.S., good for society, good for the people that own crypto,” Shirzad said.

 

Industry Optimism and Next Steps

The crypto sector is experiencing a wave of optimism as policymakers prepare to tackle long-awaited regulatory clarity. Shirzad highlighted the importance of addressing both market structure legislation and stablecoin regulations, expressing hope that these measures will create a more robust and predictable framework for the industry.

 
 


Crypto and Metals



btc us104,822 USDBitcoin
eth us2,511.93 USDEthereum
xrp us2.17116 USDXRP
xau us3,323.69 USDGold Ounce
xag us36.0043 USDSilver Ounce
xpd us1,052.76 USDPalladium Ounce
xpt us1,167.37 USDPlatinum Ounce


Important Stocks >>




Latest News

Business

The global automotive industry is sounding the alarm as China’s recent export restrictions on rare earth elements begin to ..

Business

Nissan’s new CEO, Ivan Espinosa, has announced a bold short-term strategy to address the company’s ongoing struggles. Espinosa emphasized ..

News

The Dutch government has fallen following a decision by far-right leader Geert Wilders to withdraw his Party for Freedom ..

Business

tariffs on steel imports, a move aimed at bolstering domestic production. The decision, which raises tariffs from 25% to ..