A transformative period for cryptocurrency regulation appears imminent following Donald Trump’s presidential victory, according to Coinbase’s Chief Policy Officer, Faryar Shirzad.
Speaking to CNBC, Shirzad expressed confidence in rapid legislative progress once Trump assumes office, supported by Republican control of both the House and Senate.
Can Trump reshape crypto industry in the US?
Two critical pieces of legislation stand poised for consideration: the Financial Innovation and Technology for the 21st Century Act, which has already passed the House and aims to establish a comprehensive digital asset framework, and the Clarity for Payment Stablecoins Act, designed to create a licensing regime for stablecoin issuers.
While Shirzad sees limited possibility for passage during the lame-duck session, he anticipates significant movement and potential approval of both bills in 2025.
The cryptocurrency industry’s growing political influence has become evident through substantial campaign contributions, with crypto-related PACs and industry groups raising over $245 million, according to Federal Election Commission data.
The Coinbase-backed Stand With Crypto Alliance’s evaluation system has identified nearly 300 pro-crypto lawmakers set to take congressional seats.
The anticipated regulatory shift gained additional momentum with SEC Chair Gary Gensler’s announced departure on January 20, Trump’s inauguration date. Shirzad expressed optimism about Trump’s ability to select a successor aligned with his pro-crypto vision, noting the president-elect’s comprehensive platform on cryptocurrency policy.
This convergence of political support, industry advocacy, and leadership change suggests a potentially transformative period for cryptocurrency regulation in the United States, with implications for the more than 50 million American crypto owners whose interests Shirzad believes will finally receive proper consideration in policy discussions.
