cryptopolitan.com
Coinbase’s policy boss, Faryar Shirzad, thinks America’s crypto regulation is about to hit full throttle under Donald Trump’s return to the Oval.
Speaking at a U.K. event hosted by Coinbase-backed advocacy group Stand With Crypto, Shirzad reportedly called the president the most pro-crypto leader in history. “We have the most pro-crypto Congress ever,” he said, referring to Republicans sweeping the House and Senate.
With Trump and his allies running the show, Shirzad predicts the long-stalled crypto bills will finally gain traction. For the 50 million Americans holding crypto, this could be the moment their interests are taken seriously in Washington.
“I think the combination should finally allow the 50 million Americans who own crypto to have their interests and voice heard in policy,” Shirzad added.
Two key bills on the table
Congress isn’t starting from scratch. Two major crypto bills are already in the pipeline, and they could reshape how digital assets are treated in the U.S. The first is the Republican-led Financial Innovation and Technology for the 21st Century Act.
This one’s a big deal. It lays out the rules for how crypto will be regulated and managed, something the industry has been screaming for over the past decade. The bill has already passed the House, setting the stage for smoother progress when the new administration steps in.
The second bill, the Clarity for Payment Stablecoins Act, targets stablecoins. Ideally, it would set up a licensing system for stablecoin issuers, creating a solid framework for these tokens, which are critical to the broader crypto ecosystem.
But unlike its counterpart, this one hasn’t cleared the House yet. Shirzad is hopeful but realistic, admitting that the stablecoin bill might not see movement until Trump is fully seated well into 2025.
Crypto’s political muscle and Gensler’s highly-anticipated departure
Trump’s victory wasn’t just a win for him, it was a power move for the entire crypto industry. The numbers back it up. Crypto-related PACs raised over $245 million during the election cycle, according to Federal Election Commission data.
That money funded campaigns, rallied support, and stacked Congress with nearly 300 pro-crypto lawmakers.
Coinbase’s Stand With Crypto Alliance created a grading system to evaluate candidates based on their crypto stance. The result? A Congress that’s now ready to listen to the industry.
Then there’s Gary Gensler, the SEC chair who’s been a thorn in crypto’s side for years. He’s out the door on January 20, the day of Trump’s inauguration.
Gensler’s tenure was filled with aggressive crackdowns on crypto. Trump, though, has brought a new direction. Shirzad wouldn’t speculate on who Trump might pick to replace Gensler but said the president-elect has a knack for choosing people who align with his vision.
“As long as he picks somebody who’s a change agent, it’ll be good for the U.S., good for society, good for the people that own crypto,” he noted.
Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap