Coinbase’s Policy Chief Believes Trump’s Support for Crypto Will Lead to Swift Regulatory Progress
The U.S. cryptocurrency sector may experience a significant regulatory shift under President-elect Donald Trump, with the swift passage of pro-crypto legislation expected early in his administration.
Faryar Shirzad, Chief Policy Officer at Coinbase, expressed optimism that the combination of a pro-crypto president and Congress could break through years of legislative gridlock in the digital assets space.
Shirzad highlighted the unprecedented alignment of a pro-crypto White House and a Republican-controlled Congress, calling it the “most pro-crypto Congress in U.S. history.” He spoke at a Coinbase-backed advocacy event in London on Dec. 2, emphasizing the opportunity to shape the future of digital assets and stablecoins through legislation.
Anticipating significant progress on key legislative proposals by 2025, Shirzad described their passage as a crucial step towards regulatory clarity.
SEC Chair Gary Gensler’s resignation, effective on January 20, 2025, coinciding with Trump’s inauguration, could signal a shift in regulatory philosophy in the crypto industry.
Shirzad expressed confidence that Trump would appoint an SEC chair in line with his administration’s pro-crypto stance, potentially fostering innovation in the U.S. crypto market.
The crypto sector has actively supported cryptocurrency-friendly political candidates, raising funds to influence the 2024 elections. The Stand With Crypto Alliance, Coinbase’s advocacy group, created a grading system to evaluate politicians’ views on bitcoin and helped elect approximately 300 pro-crypto MPs.
With stablecoin regulation becoming increasingly urgent for international payments, a successful regulatory overhaul could unlock the full potential of digital assets, fostering innovation and economic growth in the sector.
Shirzad aptly pointed out, “The alignment of a pro-crypto president and Congress creates an unprecedented opportunity for transformative progress in U.S. cryptocurrency policy.”
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