TD Cowen: The US Crypto Market Structure Bill may be postponed until after the midterm elections

TD Cowen analysts stated in their latest report that the US Senate is making slow progress in advancing legislation on the structure of the cryptocurrency market, and passage of the bill may be delayed until after the midterm elections. The report points out that fundamental disagreements between Democrats and Republicans over the division of regulatory powers and DeFi restrictions are major obstacles to the current deliberations. Among them, the Democratic Party's proposal to ban senior government officials from holding crypto assets is considered a sensitive issue, involving the controversy surrounding the Trump family's profits from projects such as World Liberty Financial. TD Cowen analyst Jaret Seiberg stated that while it's not impossible for senators to take action within the next 12 months, given political considerations and the limited session timeframe, "they have far more reasons to delay than to move forward quickly." (The Block)