According to investment bank TD Cowen, US President Donald Trump's memecoin Official Trump (TRUMP) could hamper progress on bipartisan crypto market structure legislation. The TD Cowen Washington research group, led by Jaret Seiberg, wrote in a report on Tuesday: "Democrats will demand details on whether foreign governments and business interests are using token purchases to curry favor with the Trump team, jeopardizing the ability of the cryptocurrency bill to gain bipartisan support, which is required to become law." TD Cowen's Seiberg said the rollout of memecoin has made it difficult for Congress to agree on a bipartisan crypto market structure bill, which is critical to addressing the legal uncertainty limiting the crypto investor base. Analysts suggest that one potential workaround could be to separate the memecoin investigation from cryptocurrency legislation, letting other Democratic leaders lead the investigation and providing cover for those who support the bill.