Key points to remember:
- Faryar Shirzad expects rapid evolution of digital assets legislation after Trump took office.
- Pro-crypto Congress and Trump’s support are key to passing legislation.
- Shirzad remains optimistic about stablecoin bills and market structure in 2025.
Faryar Shirzad, director of policy at Coinbase, is very optimistic about the prospects for cryptocurrency legislation in the United States under the Trump administration. In a recent interview, he had said that regulation of digital assets would be fast-tracked in Congress with Donald Trump as president and the Republican Party controlling the House and Senate.
Shirzad pointed out that some important digital asset laws could be passed in the coming years and that the pro-crypto Trump administration would be at the forefront of the legislative push. “We have the most pro-crypto Congress ever,” he said, citing the combination of political will and a clearly pro-crypto agenda.
Stablecoin and market structure bills in progress
These are some of the major pieces of legislation passed by Congress. First, the Financial Innovation and Technology for the 21st Century Act would establish a legal framework for digital assets. It has already passed the House of Representatives.
While the second, the Clarity for Payment Stablecoins Act, deals with the regulation of stablecoin issuers and ensures that the rules are followed in the digital currency space. The stablecoin bill has not passed the House, although Shirzad hopes the bills will pass in 2025 and mark the first major regulation for the industry.
Crypto’s Growing Political Influence
The digital assets industry has increasingly made its presence felt in the political arena, with crypto PACs and advocacy groups raising substantial funds to support candidates aligned with pro-crypto policies. Data shows these groups have raised more than $245 million to support political campaigns.
Shirzad added that nearly 300 pro-digital asset lawmakers will be sworn in in the next Congress, a factor that speaks to the growing influence of the crypto sector, not only in legislation, but in shaping the political landscape.
As Trump now prepares to take over the presidency, his nominees for various positions, including SEC Chairman Gary Gensler’s replacement, would be sure to continue on this path by establishing a solid foundation for the future of digital assets in the UNITED STATES.
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