The United States is poised for a transformative phase in cryptocurrency legislation and stablecoin regulations. Coinbase’s Chief Policy Officer, Faryar Shirzad, anticipates a swift rollout of regulatory measures once Donald Trump assumes the presidency in January 2025.
Optimism for Pro-Crypto Reforms
Shirzad’s confidence stems from Trump’s crypto-friendly platform and the Republican Party’s majority control in both the House and Senate. This combination, he believes, creates the most favorable conditions for cryptocurrency policy in U.S. history.
At a Coinbase-supported advocacy event in the United Kingdom on Dec. 2, Shirzad spoke about the potential impact of this political alignment. He emphasized that this could be a historic moment for the 50 million American crypto owners to have their interests reflected in federal policy.
Legislative Priorities for the Crypto Industry
Two pivotal pieces of legislation are already in the pipeline:
- The Financial Innovation and Technology for the 21st Century Act
This comprehensive framework for digital assets has cleared the House of Representatives and awaits action in the Senate. - The Clarity for Payment Stablecoins Act
Aimed at regulating stablecoin issuers, this bill proposes a licensing framework for stablecoins tied to fiat currencies like the U.S. dollar. However, it has yet to progress to a House vote.
While immediate legislative progress remains unlikely during the current “lame duck” session, Shirzad expects significant advancements in 2025.
Trump’s Pro-Crypto Presidency: A Catalyst for Change
Donald Trump’s election has reignited optimism within the cryptocurrency sector. His campaign promises, combined with the Republican Party’s control of Congress, offer a streamlined path for long-awaited crypto reforms.
Additionally, Trump’s victory ensures the departure of SEC Chair Gary Gensler, who will step down on Jan. 20, 2025. Gensler’s tenure has been widely criticized for regulatory ambiguity and enforcement-heavy approaches, which many argue stifled innovation.
New Leadership for the SEC
Although Shirzad refrained from speculating on Trump’s choice for the next SEC Chair, he expressed confidence in the administration’s commitment to fostering crypto innovation. A supportive regulatory framework could bolster the U.S. crypto market and strengthen its position as a global leader in digital assets.
Stablecoin Regulation: A Top Priority
Shirzad underscored the importance of stablecoin regulation, given their growing role in global trade and payments. He believes that establishing clear rules for stablecoins will be a crucial step in unlocking the full potential of digital assets within the U.S. economy.
What Lies Ahead for Crypto Policy?
The Financial Innovation and Technology Act and the Clarity for Payment Stablecoins Act are expected to lay the groundwork for comprehensive crypto legislation. However, critical details, including tax implications and compliance requirements, remain to be clarified.
As the industry awaits these developments, Shirzad maintains that the alignment of a pro-crypto president and Congress represents an unprecedented opportunity to advance digital asset innovation.
This period could mark a turning point in cryptocurrency history, with the potential to reshape the regulatory landscape and set a new global standard.
The post Coinbase Exec Predicts Stablecoin Regulations by 2025 After Trump Win appeared first on Cryptonews.
