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
US Lawmakers Propose Digital Asset PARITY Act to Reform Crypto Tax Rules
US lawmakers introduced the “Digital Asset PARITY Act,” proposing tax exemptions for small stablecoin transactions and clearer rules for crypto taxation. While supporters welcome the initiative, critics argue it inadequately addresses broader industry needs, particularly regarding Bitcoin.
LiveBTCNews6h ago
Bitcoin macro risks spike as Ukraine messes with Trump's plan to stabilize oil markets
Ukraine's drone strikes have exacerbated oil market instability during the Iran war, complicating Trump's efforts to stabilize prices. This disruption risks prolonged high oil prices, leading to inflation and potential Fed rate hikes, which could challenge cryptocurrency stability.
CoinDesk7h ago
Bitcoin ETF ends with seven straight red days, and renewed downward pressure hits the Bitcoin price
Recently, after experiencing a net inflow for seven consecutive trading days, the U.S. Bitcoin spot ETF saw a significant outflow, with a net outflow of $163.5 million on the 18th and another outflow of $51.9 million on the 19th, indicating a simultaneous weakening of market capital and prices. Bitcoin's price briefly fell below $70,000, highlighting that the fund flows of the ETF can no longer support its rebound, and the deteriorating macro environment is putting pressure on risk assets, causing a noticeable contraction in investor preference. The testing of the $70,000 threshold has become a barometer for short-term market sentiment.
区块客8h ago
Plume’s legal counsel testified before Congress, urging the SEC to accelerate rulemaking for tokenization and move DeFi protocol ATS registrations forward
Plume legal advisor B. Salman Banaei testified before Congress, urging the SEC to expedite the development of tokenization rules and criticizing the reliance on an "innovation exemption" mechanism. He emphasized the need for public consultation to promote permanent solutions that would attract large institutions to participate in the tokenization of real-world assets, reminding SEC leadership of the urgency to act.
GateNews13h ago
Citigroup slashes Bitcoin and Ethereum 12-month price targets, stating that stalled U.S. crypto legislation weakens upward catalysts.
Citigroup lowers its 12-month target prices for Bitcoin and Ethereum, indicating that its medium-term outlook for the crypto market has turned cautious, mainly because progress on U.S. crypto-asset legislation has been slow. Its Bitcoin target is reduced from $143,000 to $112,000, and its Ethereum target is lowered to $3,175. Although there is still room for upside in the future, the lack of new policy catalysts means prices could trade within a range in the short term. Citigroup is even more cautious in its assessment of Ethereum, saying it is more heavily influenced by on-chain activity.
区块客13h ago
The U.S. Treasury Secretary angrily criticized the FT for "fabricating content" and denied ever supporting a model based on the Bank of England.
U.S. Treasury Secretary Scott Bessent criticized the Financial Times report about his support for a accountability mechanism similar to that of the Bank of England, calling it "a complete fabrication." He emphasized that he had not proposed any related plans and expressed disdain for the Bank of England's communication mechanism. This incident reflects the sensitivity of the U.S. regarding the independence of its monetary policy, and it could impact the cryptocurrency market.
GateNews03-27 09:50
