ChainCatcher News, according to CNBC, Coinbase Chief Policy Officer Hillard stated that he believes cryptocurrency legislation will be "relatively quickly" advanced in Congress after Trump takes office. Trump was known during his campaign for his well-known supportive platform for cryptocurrency. He made these remarks as two key pieces of cryptocurrency-related legislation are advancing in Congress.

One is the Republican-led "21st Century Financial Innovation and Technology Act," aimed at establishing a legal framework for digital assets. This bill passed the House earlier this year. The other is the "Payment Stablecoin Clarification Act," which aims to establish a regulatory framework to license stablecoin issuers—stablecoins are tokens that are pegged to the value of fiat currencies like the US dollar. The stablecoin bill has not yet been voted on in the House.