publive-image

Trump's Victory Sparks Optimism for Fast-Tracked Crypto Laws and Stablecoin Regulation

The crypto world is buzzing with optimism following Donald Trump's victory and the Republican Party's control of Congress, signaling a potential breakthrough in crypto regulation. Faryar Shirzad, Coinbase's Chief Policy Officer, noted that Trump's pro-crypto leadership, combined with a supportive Congress, could accelerate the passage of key cryptocurrency laws.

Shirzad highlighted this pro-crypto environment, stating that it represents the most supportive Congress in history. As Trump continued to promote and advocate for crypto innovation during his campaign, Republicans gained control, further enhancing this favorable climate for the industry and Senate, a streamlined path is anticipated toward regulation. Two pivotal bills are expected to see significant action on these agendas: the Financial Innovation and Technology for the 21st Century Act and the Clarity for Payment Stablecoins Act.

Crypto Regulation Bills Aim for Clarity by 2025 - Financial Innovation Act

The Financial Innovation Act aims to establish clear guidelines for digital assets, creating a much-needed framework for the evolving cryptocurrency market. Meanwhile, the stablecoin clarity bill seeks to regulate stablecoin issuers, ensuring transparency and accountability. Shirzad expressed that these measures could provide the regulatory clarity the crypto market has long awaited.

He remains optimistic that Congress will act quickly. Although he acknowledged the slim chance of progress during the "lame duck" period before Trump's inauguration, he believes that 2025 will be the year of significant action.

Trump's Victory Gives Crypto Community Hope for Pro-Crypto SEC Policies

Trump's victory also brings change to the U.S. Securities and Exchange Commission (SEC). Current chair Gary Gensler, who has been known for his strict stance on crypto, will leave office on January 20. Trump's new SEC pick is expected to align with his pro-crypto vision, which could further support innovation in the industry.

The role of crypto lobbying cannot be overlooked. Organizations like the Coinbase-backed Stand With Crypto Alliance have played a major part in shaping pro-crypto sentiment among lawmakers. With nearly 300 crypto-friendly legislators in Congress, the industry's lobbying power is clearer than ever.

Shirzad called this a moment of opportunity for the 50 million Americans who own crypto; he emphasized the need for well-balanced policies to protect innovation and investors. Thus, with Trump's pro-crypto leadership, the crypto law path looks smoother than ever.