TD Cowen warns crypto companies themselves may push legislation that 'derail' crypto industry as a whole

The investment bank TD Cowen sees potential disruption in the cryptocurrency industry based on regulatory efforts.

The report argues that industries usually unite when pushing their legislative agendas, supported by coordinated lobbying. However, when Congress starts paying attention to a specific industry, companies begin to focus on legislation that benefits them individually. This forces lawmakers to choose sides within the industry, weakening the industry's overall progress.

"Navigating this evolution from legislation that can't pass to legislation that looks like it will pass, in our view, is now the crypto industry's biggest Washington challenge. Companies may decide the stablecoin bill is not needed or would benefit rivals too much," Seiberg wrote. "That could derail the stablecoin bill this year, which would then rob the market structure bill of momentum going into 2025.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Denim stocks can benefit with Western style in vogue, TD Cowen saysThe firm gave its top ideas for riding the Wild West trend.
Source: CNBC - 🏆 12. / 72 Read more »

The data center boom is leading to a power crunch. These stocks are ahead of the curve, TD Cowen analysts sayFollowing a decade of flat load growth, artificial intelligence data centers and electric vehicles are driving an acceleration in electricity demand.
Source: CNBC - 🏆 12. / 72 Read more »

Lawmakers' crypto market structure bill stands 'no chance' this Congress, but sets them up for next year: TD CowenA crypto market structure bill may have 'no chance' of becoming in this Congress but will set up lawmakers for next year, TD Cowen said.
Source: TheBlock__ - 🏆 464. / 53 Read more »