The top politician at the US-based crypto exchange by trading volume says Trump’s second term will spell a boom for the crypto industry.
According to a new report from CNBC, Coinbase’s Faryar Shirzad expects the United States to begin adopting crypto regulations very quickly under Trump.
At a recent Stand with Crypto event in the UK, Shirzard told CNBC that the Republican Congress would easily approve pro-crypto measures.
“We have the most pro-crypto Congress ever (in) history, we have an extraordinarily pro-crypto president taking office.
I think this combination should finally allow the 50 million Americans who own cryptocurrencies to have their interests and voices heard in politics.
Congress is currently considering two major crypto-related regulations, including the Financial Innovation and Technology for the 21st Century Act and the Stable Payments Clarity Act.
According to Shirzad, the Republican Congress will likely quickly pass botched laws.
Crypto political action committees (PACs) have raised more than $245 million for this year’s US presidential election, CNBC reports.
Last week, Coinbase CEO Brian Armstrong said Massachusetts Senator Elizabeth Warren and U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler want to destroy the crypto industry.
“Warren and Gensler attempted to illegally kill our entire industry, and this was a major factor in Democrats losing the election. The Democratic Party should realize that Warren is a liability and distance itself further if it wants to have any hope of reconstruction.”
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Featured image: Shutterstock/Liu Zishan
