Coinbase Exec Predicts Swift Crypto Laws Under Trump

The United States would witness swift changes in the cryptocurrency regulations after President-elect Donald Trump assumes office. At an event, Coinbase’s policy chief, Faryar Shirzad, stated that he expects Congress to prioritize crypto laws early in Trump’s presidency.

Shirzad highlighted that the Republican Party now controls the presidency, the Senate, and the House of Representatives and added that it is the “most pro-crypto” in history. Further, he stated that the political shift would create a favorable environment for crypto-related legislation.

The policy chief pointed out that two important crypto bills are currently moving through Congress. One is the Financial Innovation and Technology for the 21st Century Act, and the other is the Clarity for Payment Stablecoins Act. The first bill seeks to establish a clear legal framework for digital assets. Whereas the second focuses on licensing stablecoin issuers. However, the stablecoin bill has yet to be passed in the House.

Shirzad was optimistic about the bills becoming law and expected significant progress in 2025. However, he noted there’s little chance for these laws to advance during the “lame-duck” post-election session. This period refers to the time before the new administration takes over.

Trump’s election signals major changes for the cryptocurrency sector. Shirzad described Trump as an “extraordinarily pro-crypto” leader. Trump’s campaign included promises of supportive crypto policies. Moreover, with his entry, the SEC Chair Gary Gensler, who was critical of the digital assets industry, would be stepping down from his position on January 20. 

The Coinbase-backed Stand With Crypto Alliance also played a role in shaping the pro-crypto Congress. This group created a grading system for lawmakers’ crypto stances. Nearly 300 pro-crypto representatives will serve in the upcoming Congress. Political action committees tied to the industry raised over $245 million to support such candidates.

Shirzad emphasized the potential for Trump’s leadership to bring change. He said Trump is skilled at picking officials who align with his vision. Shirzad expects Trump’s new SEC appointee to be a “change agent” in crypto regulation.

The U.S. crypto community now waits for 2025, when these laws could reshape the industry. Shirzad remains confident in the legislative process under a pro-crypto government.