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TD Cowen says divided government is the best option for crypto in the November election


Potential Impact of Election Results on Crypto Assets, According to TD Cowen

The upcoming November election could have significant implications for the crypto market, with experts warning that a sweep by either Democrats or Republicans could increase risk for crypto assets. According to TD Cowen, a divided government would be the best outcome for the industry, as bipartisan agreements could lead to more stable legislative and regulatory frameworks.

If President Biden wins with a Republican Senate, a bipartisan crypto market structure bill focusing on investor protections could be on the horizon. However, this could also mean that SEC Chair Gary Gensler, who has been a critic of the crypto industry, would remain in power until 2026.

On the other hand, former President Donald Trump has been positioning himself as a pro-crypto candidate, which could signal a more favorable regulatory environment for the industry if he were to win re-election. Republican politicians have generally been more supportive of crypto, but the industry maintains that it is a nonpartisan issue.

The House of Representatives recently passed a bipartisan crypto infrastructure bill, signaling a growing understanding and importance of crypto in Washington. As the election draws near, crypto investors are closely watching the political landscape for any potential shifts that could impact the industry.


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