TD Cowen: US crypto market structure bill may have to wait until after the midterm elections

PANews reported on October 14 that according to The Block, TD Cowen analysts pointed out in a report released on Monday that U.S. senators have been slow to pass legislation on the structure of the cryptocurrency market, which may cause the passage of the bill to be postponed until after the midterm elections. Republicans and Democrats have fundamental differences in the distribution of regulatory power and DeFi restrictions, making it difficult to determine the review schedule. The report pointed out that the clause proposed by the Democrats to prohibit senior government officials from holding crypto assets is the main obstacle. This clause directly targets the controversy over the Trump family's profits through projects such as World Liberty Financial. Although procedural disputes do not constitute a substantial obstacle, analysts believe that senators are more inclined to postpone the vote. The limited Senate session and political considerations of the midterm elections further weaken the urgency of legislation. TD Cowen analyst Jaret Seiberg said: "We do not think that action can be taken in the next 12 months. Our view is that senators have more reasons to delay action than to move forward quickly."