2024-12-3 21:27 |
Coinbase chief policy officer Faryar Shirzad anticipates a rapid push for comprehensive crypto regulation once President-elect Donald Trump begins his new term, CNBC reported on Dec. 2.
Shirzad expressed confidence that legislative efforts to regulate the crypto industry will progress “fairly quickly” through Congress under Trump’s leadership. His optimism stems from the combination of a pro-crypto president and a Congress that, under Republican control, could help expedite the process.
Shirzad added:
“We have the most pro-crypto Congress ever [in] history, we have an extraordinarily pro-crypto president coming into office. I think the combination should finally allow the 50 million Americans who own crypto to have their interests and voice heard in policy.”
Legislative progressThe comments come amid the consideration of two important pieces of crypto-related legislation. One is the Republican-sponsored Financial Innovation and Technology for the 21st Century Act (FIT 21), which passed the House of Representatives earlier this year and aims to create a legal framework for crypto.
The second bill, the Clarity for Payment Stablecoins Act, seeks to establish regulatory guidelines for stablecoin issuers. However, it still needs to pass a House vote.
While Shirzad remains hopeful that these bills will gain approval, he acknowledged that the so-called “lame duck” period after the election — before Trump’s inauguration — offers limited time for significant legislative progress. Even so, he expects “significant movement” and possibly the passage of market structure and stablecoin legislation in 2025.
Shirzad also noted the significance of US Securities and Exchange Commission (SEC) Chair Gary Gensler’s upcoming departure, scheduled for Jan. 20, the same day as Trump’s inauguration.
Shirzad remains optimistic that the incoming administration will appoint an SEC chair who aligns with Trump’s crypto-friendly platform, stating:
“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 US, good for society, and good for the people that own crypto.”
The post Coinbase policy executive predicts fast crypto regulation under Trump appeared first on CryptoSlate.
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