According to a report released on Monday by TD Cowen's research department, it is predicted that there may be a 180-degree shift in the regulation of cryptocurrency during the upcoming Trump administration (but this cannot be guaranteed). Given that the Republican-controlled Senate and House of Representatives will dominate the political landscape, despite a small advantage, analysts predict that President-elect Trump will be able to use his "political capital" to push for an agenda centered on economic reform, trade, and tax reduction.

The researchers wrote: "We believe that once Trump appoints a new SEC chairman, cryptocurrency enforcement may be shelved. Regardless of whether Gary Gensler resigns as SEC chairman, Trump can appoint a new chairman on January 20th, which does not mean that cryptocurrencies will become the Wild West without any SEC supervision. The new chairman will re-evaluate existing cases and look for ways to clarify how cryptocurrency companies comply with existing laws, which exceeds our expectations."

Nevertheless, researchers believe that "given that the Trump team's focus is on extending tax cuts and resolving tariff and trade issues, cryptocurrency will not be its top priority".