Learning to Engage With and Regulate Crypto
About Faryar Shirzad
Faryar Shirzad, chief policy officer at Coinbase Global, appeared on the podcast Early Returns to discuss cryptocurrency regulation and the industry's political landscape. Shirzad described the GENIUS Act, which he said creates a federal regulatory framework for US dollar stablecoins, allowing peer-to-peer transactions using crypto technology without intermediaries, making payments cheaper, faster, and safer. He also discussed the Clarity Act, which he characterized as a bipartisan legislative priority that designates the Securities and Exchange Commission and the Commodity Futures Trading Commission to provide a regulatory framework for crypto trading. In the conversation, Shirzad stated that under the Biden administration, a small group of progressive members and regulators were "unambiguously trying to destroy the industry and drive it offshore," leading Coinbase to build what he described as the largest political operation any industry has built to defend the rule of law. Shirzad also noted that Visa has integrated crypto technology into its processing systems, citing Visa's statement that stablecoin-based settlement could help build resiliency, speed, and scale. He encouraged listeners to visit Coinbase's public policy landing page for materials produced by his team and the Coinbase Institute. The podcast host introduced Shirzad as someone whose career journey included serving as a White House advisor and a Goldman Sachs executive before entering the crypto space.