Coinbase CEO expects rapid cryptocurrency legislation in the U.S. after Trump takes office

According to CNBC, Coinbase Chief Policy Officer Hilderbrand stated that cryptocurrency legislation will be pushed through Congress "quite rapidly" after Trump takes over the White House. Trump is well-known for his pro-cryptocurrency policy platform during his campaign. His comments come at a time when two key pieces of cryptocurrency-related legislation are advancing in Congress. One is the Republican-backed "21st Century Financial Innovation and Technology Act," which aims to establish a legal framework for digital assets. This bill was passed in the House earlier this year. The other is the "Payments Stablecoin Clarity Act," which aims to create a regulatory framework to license stablecoin issuers—stablecoins are tokens pegged to the value of fiat currencies like the U.S. dollar. The stablecoin bill has yet to be voted on in the House.