US Crypto Regulations Expected to Advance Under Trump’s Leadership

The US cryptocurrency market is poised for significant regulatory developments, according to Coinbase’s chief policy officer, Faryar Shirzad. In a recent interview, Shirzad expressed optimism that crypto legislation will progress “fairly quickly” through Congress once President-elect Donald Trump assumes office in January 2025.

Shirzad’s comments are backed by Trump’s strong pro-crypto stance and the Republican party’s control of both the House of Representatives and the Senate. “We have the most pro-crypto Congress ever and an extraordinarily pro-crypto president. This combination should allow the 50 million Americans who own crypto to have their interests heard in policy,” Shirzad said.

Upcoming Crypto Legislation

Two significant pieces of crypto-related legislation are currently advancing through Congress: the Financial Innovation and Technology for the 21st Century Act and the Clarity for Payment Stablecoins Act.

The first bill aims to establish a legal framework for cryptocurrencies and has already passed the House. The second bill seeks to regulate stablecoin issuers but has not yet been approved by the House.

Shirzad expects major progress on both bills in 2025, though he acknowledges that consideration in the current “lame duck” session is low. The expected regulatory developments have sparked optimism among crypto enthusiasts, with some analysts predicting a potential “defi renaissance” in the US under Trump’s leadership.

Crypto investors and enthusiasts can expect significant developments in the US cryptocurrency market in the coming year. With a pro-crypto president and Congress, the stage is set for the establishment of a clear regulatory framework for cryptocurrencies.

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