Coinbase Chief Policy Officer Expects Crypto Bill to Be Passed Quickly After Trump Inaugurates

Coinbase Chief Policy Officer Faryar Shirzad expects the U.S. to quickly regulate the cryptocurrency industry once Trump takes office as president, and that cryptocurrency legislation will pass Congress "fairly quickly." Republicans also control the House and Senate, which Shirzad said should make the process of approving cryptocurrency laws smoother. "We have the most pro-crypto Congress in history, and we have a particularly pro-crypto president in office," Shirzad said recently at an event organized by the UK branch of Stand With Crypto. "I think this combination should ultimately allow the interests and voices of 50 million Americans who own cryptocurrencies to be heard in policy." His comments come as two key cryptocurrency-related legislation is being considered by Congress. One is the Republican-sponsored 21st Century Financial Innovation and Technology Act, which aims to establish a legal framework for digital assets. The bill passed the House earlier this year. The other is the Payment Stablecoin Clarification Act, which aims to establish a regulatory regime to issue licenses for stablecoin issuers, which has not yet passed a House vote. Shirzad said he is “optimistic” that the bill will pass, but noted that the chances of crypto legislation being considered in the so-called “lame duck” post-election period are “low.” Even if Congress does not approve crypto legislation this year, Shirzad expects “significant progress and passage of market structure legislation and stablecoin legislation” in 2025. (CNBC)