Coinbase Exec Anticipates Clear Stablecoin Regulations by 2025

Coinbase's Chief Policy Officer, Faryar Shirzad, has expressed optimism about the rapid development of cryptocurrency legislation under the upcoming leadership of President-elect Donald Trump. Shirzad's comments come as the Republican Party prepares to take control of the White House and both chambers of Congress, signaling a potential turning point for U.S. crypto regulations.

Pro-Crypto Administration to Accelerate Legislation

Speaking to CNBC on Dec. 2, Shirzad highlighted the strong pro-crypto stance of the incoming administration and Congress. He stated, "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."

Shirzad anticipates that legislation could move swiftly after Trump assumes office in January 2025, paving the way for a more structured regulatory environment for digital assets.

Key Crypto Bills in Focus

Two critical pieces of legislation are expected to shape the future of U.S. crypto regulation:

1.The Financial Innovation and Technology for the 21st Century Act

• This bill aims to establish a clear legal framework for cryptocurrencies, promoting innovation while ensuring investor protection. It has already passed the House of Representatives earlier this year.

2.The Clarity for Payment Stablecoins Act

• Focused on regulating stablecoin issuers, this bill seeks to provide clarity and oversight in the rapidly growing stablecoin sector. However, it is yet to secure approval in the House.

Challenges and Timeline

While progress on these bills has been promising, Shirzad acknowledged that the likelihood of significant movement during the current lame-duck session is slim. Instead, he predicts substantial advancements on both the market structure and stablecoin legislation once the new administration is in place.

Implications for the Crypto Industry

The anticipated regulatory clarity is expected to benefit the estimated 50 million Americans who own cryptocurrency, as well as the broader industry. A pro-crypto legislative and executive environment could spur innovation, attract institutional investment, and enhance consumer protections.

Conclusion

As the crypto sector continues to evolve, the next two years could mark a defining period for regulatory clarity in the U.S. With a supportive administration and Congress, the pathway for stablecoin rules and broader crypto legislation appears more attainable than ever.