BIPARTISAN CRYPTO LEGISLATION LOWER ON TRUMP'S PRIORITY LIST
- TD Cowen analysts predict bipartisan crypto legislation, covering stablecoins and market structure, has a higher chance of passing under a Trump administration, but it won’t be an immediate focus.
- Trump’s new SEC chair could pause crypto enforcement to review cases and clarify compliance, potentially easing the regulatory pressure on crypto firms without creating a “Wild West” environment.
- Resistance to government oversight—especially concerning AML (anti-money laundering) and Bank Secrecy Act (BSA) compliance—could delay consensus, with concerns over crypto’s potential misuse for sanctions evasion and other illicit activities.
- Lawmakers may either pass a specific bill for stablecoins or incorporate them into broader market legislation, likely opening doors for banks to issue stablecoins with consumer protections.
- While crypto-related reforms aren’t Trump’s initial focus, a GOP-controlled Congress could advance laws that bring stablecoins and certain crypto assets under clearer regulation if industry embraces AML/BSA measures.