TD Cowen analyst: Democrats may not hold senior positions in the U.S. SEC next year

TD Cowen analysts said that Democrats may not hold top positions at the U.S. Securities and Exchange Commission (SEC) next year, making way for Republicans to develop cryptocurrency-related rules. The investment bank noted that an all-Republican committee would help Atkins advance the rules faster because there would be no Democrats to hold up the process. However, analysts said that bipartisan cooperation also has risks that could affect future cryptocurrency regulation. "If the rules are seen as partisan, then a Democratic SEC is more likely to change them. In contrast, bipartisan rulemaking may create a regulatory system that can stand the test of elections," the analysts said. "We believe this will provide policy stability, which will benefit crypto trading platforms, token issuers, and the broader crypto industry."