Trump Administration Set to Accelerate Crypto Regulations in the US

user avatar

by Giorgi Kostiuk

2 years ago

Faryar Shirzad, Coinbase's Chief Policy Officer, suggests that the new US President Donald Trump's administration might expedite the passage of legislation regulating cryptocurrencies.

Faryar Shirzad's Forecasts

In an interview with CNBC on December 2, Shirzad expressed confidence that the Republican president-elect Trump’s pro-crypto stance, coupled with GOP control of Congress, will pave the way for significant legislative progress. He stated, "We have the most pro-crypto Congress ever and an extraordinarily pro-crypto president. This combination should allow the 50 million Americans who own crypto to have their interests heard."

Legislation Under Discussion

Two critical pieces of legislation are being considered to clarify regulations in the cryptocurrency space: the 'Financial Innovation and Technology for the 21st Century Act', providing a legal framework for cryptocurrencies, and the 'Clarity for Payment Stablecoins Act', focusing on regulating stablecoin issuers. The market structure bill has passed the House, while the stablecoin bill is still awaiting consideration. Shirzad tempered expectations for progress during the current session, noting the likelihood of passing these bills is small; however, he remains optimistic about significant legislative action in 2025.

Potential Appointments and Impacts

Analysts at the crypto financial services platform Matrixport have suggested that Trump's key appointments could further drive a crypto-friendly agenda. A recent report highlighted the potential impact of Trump's rumored nominees for top roles, including Cantor Fitzgerald CEO Howard Lutnick as Commerce Secretary, Scott Bessen as Treasury Secretary, and crypto advocate Paul Atkins as SEC Chair. If appointed, Atkins would likely replace the current SEC Chair, Gary Gensler, whom Trump has vowed to dismiss.

The anticipated Trump presidency with congressional backing is expected to significantly influence the regulatory framework of the crypto market in the US, potentially leading to positive changes for cryptocurrency holders.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Circle Raises $100 Million from Binance through Share Sale

Circle has raised $100 million by selling shares to Binance as part of a commercial agreement to promote USDC.

user avatarNguyen Van Long

Circle and Binance Extend Partnership with New Agreement

Circle and Binance have renewed their partnership with a new agreement that replaces previous contracts. This arrangement allows Binance to hold shares in Circle while promoting the USDC stablecoin on its platform.

user avatarSatoshi Nakamura

Coincheck Group Announces Leadership Change

Coincheck Group has confirmed the resignation of Executive Chairperson Takashi Oyagi, effective September 21, for personal reasons, and has approved a new leadership transition structure.

user avatarJesper Sørensen

MEXC Launches Initiatives to Enhance Access to Financial Markets

MEXC has launched several initiatives, including the Trade Wall Street, Without Walls campaign, to enhance access to traditional financial markets.

user avatarRajesh Kumar

MEXC Introduces Stock Trading Handbook for Crypto Traders

MEXC has launched the Stock Trading Handbook to assist crypto traders in transitioning to the stock market as part of its Opportunity Compass initiative.

user avatarLucas Weissmann

KalshiEX Seeks Approval for Perpetual Security Futures

KalshiEX has filed a proposal with the SEC to introduce perpetual security futures linked to 58 stocks and ETFs.

user avatarFilippo Romano

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.