Trump Administration Expected to Ease Crypto Regulations

With Donald Trump poised to return to the presidency, the cryptocurrency industry is optimistic about a regulatory overhaul favoring digital assets. Coinbase's Chief Policy Officer, Faryar Shirzad, predicts rapid legislative progress, particularly with the Financial Innovation and Technology for the 21st Century Act and the Clarity for Payment Stablecoins Act, which aim to clarify market structures and stablecoin regulations. Trump's administration could signal a shift away from the strict policies enforced by outgoing SEC Chair Gary Gensler, who has been criticized for his tough stance on crypto. Experts believe that under Trump's leadership, pending lawsuits against major exchanges may be withdrawn, paving the way for the U.S. to become a global leader in cryptocurrency. The 2024 U.S. presidential election is thus seen as a pivotal moment for the crypto market, with implications for the broader regulatory landscape. This evolving political climate has sparked speculation about potential candidates for the new SEC chair, aligning with Trump's pro-crypto agenda.