"Those gains, however, are not guaranteed to endure. TD Cowen repeatedly warned in its report that many initiatives could be revised or reversed by a future Democratic administration if they are not finalized, implemented, and legally defended before the next presidential transition in 2029. Rather than sweeping crypto legislation, the firm expects change to arrive through exemptions, agency guidance, new charters, and targeted market-structure adjustments. The result is a regulatory strategy that emphasizes speed and durability over ambition."
"TD Cowen describes the broader environment as a "golden age of deregulation" for financial services, housing, and crypto. The report says Trump has moved faster than prior presidents to assert control over financial regulators, installing leadership teams explicitly committed to lighter, more tailored oversight and a more permissive stance toward digital assets and tokenization. The White House, Treasury Department, and market regulators are described as unusually aligned on the view that regulation should accommodate innovation rather than constrain it."
2026 represents a convergence of aligned regulators, political will, and market momentum that could produce lasting policy gains for crypto. Policy change is expected through exemptions, agency guidance, new charters, and targeted market-structure adjustments rather than sweeping legislation. The regulatory approach prioritizes speed and legal durability over broad ambition to withstand potential reversals by a future administration. The current administration has installed leadership teams favoring lighter, tailored oversight and a permissive stance toward digital assets and tokenization. The White House, Treasury, and market regulators are unusually aligned on accommodating innovation. Rules must be finalized in 2026 to better survive court challenges and political shifts.
Read at Bitcoin Magazine
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