The upcoming Trump administration could accelerate the process of cryptocurrency regulation in the U.S., according to Coinbase's Chief Policy Officer Faryar Shirzad.
Crypto Regulation Forecast
Shirzad expressed optimism that crypto-friendly legislation supported by a Republican Congress will move swiftly forward after Trump's inauguration in January. He emphasized that Trump's strong pro-crypto stance and the GOP's majority in both the House and Senate are crucial for advancing this legislation.
Current Legislation
Two critical bills are currently under review: the 'Financial Innovation and Technology for the 21st Century Act', a Republican-backed bill aimed at creating a comprehensive legal framework for digital assets, which has already passed the House of Representatives, and the 'Clarity for Payment Stablecoins Act', focused on licensing stablecoin issuers, which has not yet been voted on in the House.
Prospects and Expectations
Shirzad acknowledged that the chances of passing these bills during the post-election 'lame duck' session are slim, but he expects significant progress in 2025. The voices of over 50 million Americans holding cryptocurrencies may finally be heard in the policymaking process.
Shirzad's predictions highlight the potential acceleration of crypto regulation under the Trump administration, which could have a significant impact on the crypto industry. However, concrete progress is only expected in 2025.
