According to a report released Monday, the research arm of investment bank TD Cowen forecasts that there could be a 180-degree shift in U.S. regulation of cryptocurrencies during the incoming Trump administration (but there is no guarantee). Given that the Republican-controlled Senate and House of Representatives will dominate the political landscape, albeit by a small margin, analysts predict that President-elect Trump will be able to use his "political capital" to push an agenda centered on economic reform, trade, and tax cuts. The researchers wrote: "We believe that once Trump appoints a new SEC chair, cryptocurrency enforcement may be put on hold. Whether Gary Gensler resigns as SEC chair or not, Trump can appoint a new chair on January 20, which does not mean that cryptocurrencies will become the Wild West without any SEC oversight. The new chair has exceeded our expectations by reassessing existing cases and looking for ways to more clearly illustrate how cryptocurrency companies can comply with existing laws." Nonetheless, the researchers argue that "given the Trump team's focus on extending tax cuts and addressing tariffs and trade, cryptocurrencies will not be a top priority". (The Block)