PANews reported on November 12 that according to The Block, the research department of investment bank TD Cowen predicted in a report on Monday that the US regulation of cryptocurrencies may undergo a 180-degree turn during the incoming Trump administration (but there is no guarantee). Given that the Republican-controlled Senate and House of Representatives will dominate the political landscape, albeit with a small advantage, analysts predict that President-elect Trump will be able to use his "political capital" to promote an agenda centered on economic reform, trade, and tax cuts.
“We believe that cryptocurrency enforcement may be put on hold once Trump appoints a new SEC chair,” the researchers wrote. “Whether or not Gary Gensler resigns as SEC chair, Trump could appoint a new chair on January 20th, which does not mean that crypto will become the Wild West without any SEC oversight. We expect the new chair to reevaluate existing cases and find ways to more clearly articulate how crypto companies can comply with existing laws.” Still, the researchers believe that “given the Trump team’s focus on extending tax cuts and addressing tariffs and trade issues, crypto will not be a top priority.”
