The top policy executive at the US-based crypto exchange by trading volume says Trump’s second term will spell a boom for the crypto industry.
According to a new CNBC report, Coinbase’s Faryar Shirzad expects the US to begin enacting crypto regulations under Trump very quickly.
At a recent Stand with Crypto event in the UK, Shirzard told CNBC that the Republican congress will easily approve pro-crypto measures.
“We have the most pro-crypto Congress ever [in] history, we have an extraordinarily pro-crypto president coming into office.
I think the combination should finally allow the 50 million Americans who own crypto to have their interests and voice heard in policy.”
Congress is currently looking at two major pieces of crypto-related regulations, including the Financial Innovation and Technology for the 21st Century Act and the Clarity for Payment Stablecoins Act.
According to Shirzad, the Republican congress is likely to pass botch acts rapidly.
Crypto Political Action Committees (PACs) raised over $245 million for this year’s US Presidential election, reports CNBC.
Last week, Coinbase CEO Brian Armstrong said that Massachusetts Senator Elizabeth Warren and U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler wanted to destroy the crypto industry.
“Warren and Gensler tried to unlawfully kill our entire industry, and it was a major factor in the Democrats losing the election. The Democratic party should realize Warren is a liability and further distance themselves if they want to have any hope of rebuilding.”
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