🚨 TD Cowen: President Trump’s Intervention Key to Crypto Legislation!
Investment bank TD Cowen has issued a bold outlook, stating that a crypto market structure bill is unlikely to pass through Congress without direct intervention from President Donald Trump.
The ongoing deadlock between the traditional banking sector and the crypto industry continues to stall essential legislative progress.
🔍 Key Takeaways from the Report:
The Standoff: Divisions between banks and crypto firms are preventing a much-needed compromise on market regulations.
Stablecoin Rewards Dispute: A major hurdle is how stablecoin rewards are treated. Banks fear these rewards will draw deposits away from traditional community institutions.
Competitive Reality: TD Cowen analyst Jaret Seiberg suggests stablecoins actually pose a more immediate threat to money market funds rather than bank deposits.
Institutional Entry: Clearer rules would remove barriers for major banks and broker-dealers, potentially triggering a massive wave of institutional adoption.
💡 My Take:
Without leadership at the top to push both sides toward concessions, the regulatory "gray area" might persist. However, if Trump steps in, we could see the most significant shift in US crypto policy to date.
What do you think? Will direct White House involvement finally bring the regulatory clarity we’ve been waiting for? Let me know in the comments! 👇
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