Trump Presidency Signals Fast-Tracking of Crypto Laws, Says Coinbase Policy Chief

Coinbase Faryar Shirzad predicts rapid crypto legislation under Trump, with Congress poised to pass two major bills on digital assets and stablecoins, shaping the U.S. crypto future.

With Donald Trump’s return to the presidency and a Republican-controlled Congress, the stage is set for a groundbreaking shift in U.S. cryptocurrency regulation. Speaking at a U.K. event hosted by Coinbase-backed advocacy group Stand With Crypto, Coinbase’s policy chief, Faryar Shirzad, called Trump “the most pro-crypto leader in history,” citing the overwhelming number of pro-crypto lawmakers now seated in Congress.

Shirzad emphasized the potential for long-awaited crypto legislation to finally move forward, noting, “The combination of Trump’s leadership and the most pro-crypto Congress ever should finally allow the 50 million Americans who own crypto to have their voices heard in policy.”

Two Key Bills to Shape Crypto Policy

Congress has two major crypto bills ready to transform the industry.

1. The Financial Innovation and Technology for the 21st Century Act
   • A Republican-led initiative, this bill aims to establish clear regulations for managing digital assets. Having already passed the House, it is positioned for swift progress under the new administration.
2. The Clarity for Payment Stablecoins Act
   • Focused on stablecoins, this legislation would introduce a licensing system for issuers, providing a solid regulatory framework for tokens critical to the crypto ecosystem.
   • Unlike the Financial Innovation Act, the stablecoin bill has yet to clear the House, with significant movement expected in 2025 under Trump’s full administration.

Crypto-Backed Congress and Gensler’s Departure

Trump’s victory brought substantial momentum for the crypto sector. Crypto-related political action committees (PACs) raised over $245 million during the election cycle, helping elect nearly 300 pro-crypto lawmakers.

Coinbase’s Stand With Crypto Alliance played a significant role, creating a grading system to evaluate candidates based on their stance on digital assets. This approach successfully pushed a pro-crypto agenda into Washington, reshaping the legislative environment.

Adding to the industry’s optimism is the impending departure of SEC Chair Gary Gensler on January 20, 2025, coinciding with Trump’s inauguration. Gensler’s tenure was marked by strict crackdowns on crypto. While Shirzad did not speculate on who might replace him, he expressed hope for a “change agent” aligned with Trump’s vision, stating that such leadership would be beneficial for the U.S., the crypto industry, and its millions of investors.

A New Era for Crypto Policy

As the U.S. gears up for transformative changes in digital asset legislation, the crypto industry is optimistic about Trump’s administration. The anticipated clarity and regulation promise to bolster innovation while ensuring consumer protection, marking a pivotal moment in the history of cryptocurrency in the United States.

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