Republican

United

Donald Trump

<div class="intro-text">
 The incoming Trump administration could fast-track cryptocurrency regulations in the United States, according to Faryar Shirzad, Coinbase’s Chief Policy Officer.
</div>
In an<a style="color: #0000ff;" href="https://www.cnbc.com/2024/12/02/coinbase-policy-chief-us-can-adopt-crypto-regulation-quickly-now.html" rel="noopener noreferrer nofollow"> interview</a> on December 2 with CNBC, Shirzad expressed confidence that the Republican president-elect’s pro-crypto stance, combined with GOP control of both chambers of Congress, will pave the way for significant legislative progress once Donald Trump assumes office in January 2025.
<blockquote>
 “We have the most pro-crypto Congress ever and an extraordinarily pro-crypto president. This combination should allow the 50 million Americans who own crypto to have their interests heard in policy,”
</blockquote>
Shirzad stated.
Two critical pieces of legislation are being considered to clarify regulations in the cryptocurrency space: the Financial Innovation and Technology for the 21st Century Act, which provides a legal framework for cryptocurrencies, and the Clarity for Payment Stablecoins Act, which focuses on regulating stablecoin issuers. The market structure bill has passed the House, while the stablecoin bill is still awaiting consideration.
Shirzad tempered expectations for progress during the lame-duck session, noting that the likelihood of passing the bills this year is “small.” However, he remains optimistic about significant legislative action in 2025.
&nbsp;
<blockquote>
 “I’m optimistic the legislation will get passed,” 
</blockquote>
he told CNBC. 
<blockquote>
 “We should see significant movement and hopefully passage of both market structure legislation and stablecoin legislation next year.”
</blockquote>
Notably, analysts at crypto financial services platform Matrixport have<a style="color: #0000ff;" href="https://defi-planet.com/2024/11/trumps-potential-pro-crypto-nominees-could-usher-in-defi-renaissance-matrixport/" rel="noopener noreferrer nofollow"> suggested</a> that Trump’s key appointments could further drive a crypto-friendly agenda. A recent report highlighted the potential impact of Trump’s rumoured nominees for top roles, including Cantor Fitzgerald CEO Howard Lutnick as Commerce Secretary, Scott Bessen as Treasury Secretary, and crypto advocate Paul Atkins as SEC Chair. If appointed, Atkins would likely replace the current SEC Chair, Gary Gensler, whom Trump has vowed to dismiss. They foresee a shift around Bitcoin as “digital gold” and driving a broader “DeFi renaissance.”&nbsp; 

&nbsp;
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/" rel="noopener noreferrer nofollow">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow">Facebook</a>, <a href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow">Instagram</a>, and <a href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow">CoinMarketCap Community.</a>
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
The post <a href="https://defi-planet.com/2024/12/coinbase-policy-chief-predicts-swift-crypto-legislation-under-trump-administration/" rel="noopener noreferrer nofollow">Coinbase Policy Chief Predicts Swift Crypto Legislation Under Trump Administration</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Coinbase Policy Chief Predicts Swift Crypto Legislation Under Trump Administration

DeFi Planet

Other articles published on Dec 2, 2024

XRP Surges Past $2.50, Claims Third Place in Crypto Rankings

Rootstock November Updates

BTC Boom Timing: 5 Undervalued Coins Primed for Triple-Digit Gains

How CrytocoinMiner makes cloud mining accessible and profitable

Bitcoin Could Plunge to $60K, But That's When I'll Buy More, Says 'Rich Dad' Author

Teresa Goody Guillén Considered for SEC Chair Amid Trump’s Pro-Crypto Push

Join our free newsletter for daily crypto updates!