According to analysts at TD Cowen, Democrats may not hold top positions at the Securities Exchange Commission (SEC) next year, thus making way for Republicans to develop cryptocurrency-related rules. The investment bank noted that an all-Republican committee would help Atkins move the rules forward more quickly, as there are no Democrats to stall the process. However, analysts said there are also risks of bipartisanship that could affect future cryptocurrency regulation. "If these rules are seen as partisan, then the Democratic SEC is more likely to change them, compared to bipartisan rulemaking that could create a regulatory regime that can withstand election tests," the analysts said. "We believe this will provide policy stability that will benefit crypto exchanges, token issuers and the broader crypto industry."