Coinbase Chief Policy Officer Faryar Shirzad stated that he believes cryptocurrency legislation will advance "quite rapidly" in Congress after Trump takes office. Trump is well-known for his supportive policy platform for cryptocurrencies during his campaign. As he made these remarks, two key pieces of cryptocurrency-related legislation are moving forward in Congress. One is the Republican-sponsored "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 "Stablecoin Transparency Act," which aims to establish a regulatory regime to license stablecoin issuers—stablecoins are tokens pegged to the value of fiat currencies like the dollar. The stablecoin bill has not yet been voted on in the House.