BlockBeats News, February 18 — Investment bank TD Cowen stated that filling the Democratic vacancies at the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) could help advance negotiations on the U.S. crypto market structure bill.
The investment bank pointed out that the biggest obstacle to passing the bill is not its core framework (i.e., whether digital assets should be regulated as securities by the SEC or as commodities by the CFTC), but rather a political dispute over conflict of interest rules.
Democrats are pushing a ban to prevent senior government officials and their families from engaging in certain financial transactions involving digital assets. TD Cowen noted that, given Trump’s involvement in the crypto project World Liberty Financial, this proposal would involve Trump and his family. Bloomberg estimated last month that Trump has profited approximately $1.4 billion from his crypto projects. The Trump family also holds a 20% stake in mining company American Bitcoin.
According to TD Cowen, it is unlikely that Democrats will abandon this demand, as they have used Trump’s crypto holdings as campaign material ahead of the midterm elections. Last month, in a Senate Agriculture Committee vote on a bill, no Democratic senators voted in favor, citing concerns over Trump’s crypto projects. It remains unclear whether Democrats will support the Senate Banking Committee’s bill.
TD Cowen stated that Republicans oppose the proposal because they believe Trump would veto any legislation requiring his family to divest their crypto holdings. The report added that, even as industry groups continue negotiations on the crypto regulatory framework, this disagreement has caused a political deadlock.
One possible path forward is a bipartisan compromise. In this scenario, Trump would agree to fill the Democratic vacancies at the SEC and CFTC. In return, Democrats would accept conflict of interest provisions that would only take effect after the next presidential inauguration.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
South African Economist Flags Authoritarian Risks in CBDCs
Economist Dawie Roodt has issued a warning that central bank digital currencies could become tools for authoritarian control due to their “programmable” nature.
The Authoritarian Risk
South African economist Dawie Roodt warned that central bank digital currencies, or CBDCs, could become
Coinpedia1h ago
The Wall Street Journal: International situation and employment data put the Federal Reserve in a dilemma, and it may remain on the sidelines in the short term
The Wall Street Journal reporter Timiraos analyzed that recent employment reports have intensified the Federal Reserve's dilemma between combating inflation and protecting jobs. Minneapolis Fed President Kashkari warned against repeating the mistakes of 2021, predicting that the Fed will not rush to adjust interest rates in the short term. If the unemployment rate rises, rate cuts may resume around mid-year, but if inflation risks increase, internal opposition voices will grow. Overall, the central bank faces a difficult choice.
GateNews4h ago
U.S. CLARITY Act Sparks Controversy: White House Crypto Official and Banking Industry Clash Over Stablecoin Incentives
On March 8th, the discussion of the U.S. CLARITY Act sparked debates between the banking industry and White House officials. The president of the Texas Independent Bankers Association stated that a compromise would impact the local economy, while White House advisors warned that no compromise could lead to disastrous consequences.
GateNews7h ago
CME Data: Probability of the Federal Reserve holding interest rates steady in March rises to 96.3%
Gate News Report, March 7 — According to CME "FedWatch" data, the probability of the Federal Reserve maintaining interest rates in March is 96.3%, while the probability of a 25 basis point rate cut is 3.7%.
GateNews15h ago
Chicago Federal Reserve President Goolsbee: The Federal Reserve is expected to start cutting interest rates by the end of the year
Gate News Report, March 7th, Chicago Federal Reserve Chair Goolsby stated that the Federal Reserve is expected to start cutting interest rates before the end of this year.
GateNews16h ago
Natixis Analyst: The Federal Reserve's March Meeting May Face Calls for Rate Cuts
Gate News Report, March 7 — Christopher Hodge from Natixis stated that the Federal Reserve may face calls for rate cuts at the March FOMC meeting. He pointed out that if the economic data for February shows weakness and January's data is revised downward, the Fed's decision to hold steady will be questioned by the market. He believes this situation will reinforce the dovish view that recent labor market data may just be "fool's gold" (appearing good on the surface but lacking real value).
GateNews16h ago
