Coinbase’s Chief Policy Officer Faryar Shirzad anticipates rapid progress in cryptocurrency legislation following Donald Trump’s election as U.S. president. Speaking at a Coinbase-backed event in the U.K., Shirzad expressed optimism that the Republican administration, with its pro-crypto stance and majority control of Congress, will pave the way for comprehensive crypto regulation.
“We have the most pro-crypto Congress ever, and an extraordinarily pro-crypto president coming into office,” Shirzad said, adding that this combination should empower the 50 million Americans invested in crypto to see their interests reflected in policymaking.
Two major legislative efforts are poised for advancement: the Financial Innovation and Technology for the 21st Century Act, which establishes a legal framework for digital assets, and the Clarity for Payment Stablecoins Act, aimed at regulating stablecoin issuers. The former has already passed in the House of Representatives, while the latter awaits further consideration. Shirzad predicts significant progress on both bills in 2025, even if they are not addressed during the current lame-duck session.
Trump’s victory signals a major win for the crypto industry, which has been bolstered by an aggressive lobbying push. Crypto-focused political action committees (PACs) raised over $245 million during the election cycle, with advocacy groups like Stand With Crypto grading candidates on their pro-crypto policies. Nearly 300 pro-crypto lawmakers are set to take office in Congress, setting the stage for expedited regulatory advancements.
The incoming administration is also expected to appoint a new SEC chair, following Gary Gensler’s planned resignation on Trump’s inauguration day. While Shirzad refrained from speculating on the next appointee, he voiced confidence in Trump’s ability to select a change-oriented leader aligned with his crypto-forward agenda.
