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According to Coinbase's senior policy officer, it is expected that the U.S. Congress will quickly pass regulatory legislation regarding the cryptocurrency industry after Trump officially takes office in January. Recently, Coinbase's Chief Policy Officer Faryar Shirzad stated that after Trump officially enters the White House, the U.S. Congress will "fairly quickly" pass cryptocurrency legislation.
He stated that Trump has previously made it clear that he supports cryptocurrency, and at the same time, the Republican Party has gained control of both the House and the Senate, which should make the process of Congress approving cryptocurrency laws smoother. "We have the most crypto-friendly Congress in history, and we will soon have a very crypto-friendly president," Shirzad stated, "I believe this combination should ultimately allow the 50 million Americans who own cryptocurrency to express their interests and voices in policy." His comments came as the U.S. Congress is considering two key pieces of cryptocurrency-related legislation. One of them is the (21st Century Financial Innovation and Technology Act), initiated by the Republicans. This bill aims to establish a legal framework for digital assets. Earlier this year, the bill was passed in the House. The other is the (Stablecoin Transparency Act), which aims to establish a regulatory regime that provides licenses to issuers of stablecoins (tokens pegged to the value of fiat currencies like the dollar).