As Donald Trump prepares to assume office as the 47th President of the United States, optimism is rising in the cryptocurrency sector. Many believe his administration will introduce supportive regulations and foster a pro-crypto environment.
Coinbase Chief Policy Officer Faryar Shirzad recently shared his belief that crypto-related legislation could advance swiftly under the new leadership.
In an interview with CNBC, he noted that Trump, along with what he called the “most pro-crypto Congress in history,” could push forward key laws that would represent the interests of over 50 million Americans holding digital assets.
Shirzad expressed hope for two significant legislative initiatives: the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Clarity for Payment Stablecoins Act of 2023.
While both bills are unlikely to pass during the current session, he anticipates significant progress and potential approval in the coming year, which would provide much-needed regulatory clarity for the industry.
January 20, 2025, marks a pivotal moment for crypto. Alongside Trump’s inauguration, Gary Gensler, the current SEC Chair known for his strict regulatory stance, will leave office. Trump has promised to appoint a pro-innovation successor, a move welcomed by the crypto community.
The recent election also brought a pro-crypto majority to Congress, with 298 industry-friendly candidates securing seats. Coinbase CEO Brian Armstrong highlighted this as a win for the sector and a step toward transformative change.
With supportive policies on the horizon, the crypto industry looks poised for growth and innovation under the new administration.
