TD Cowen: Trump's Social Media Remarks Unlikely to Drive Crypto Bill Progress

Odaily News Investment bank TD Cowen stated that while U.S. President Trump's recent call on social media for the banking industry and the crypto sector to reach an agreement on the CLARITY Act (Clarity for Digital Assets Act) is a positive signal, it is insufficient to break the current legislative deadlock.

Jaret Seiberg, Managing Director of TD Cowen's Washington Research Group, noted in a report that Trump frequently voices opinions on social media, but a single post has limited practical impact on policy advancement. To drive progress in crypto market structure legislation, the President needs to be directly involved in negotiations between the banking industry and the crypto sector.

Seiberg believes that merely expressing a stance on social media is unlikely to lead to a legislative breakthrough, and a real solution may require Trump to personally convene relevant parties for discussions. However, he also pointed out that given the current state of armed conflict between the U.S. and Iran, the likelihood of Trump directly intervening in negotiations in the short term is low.

Previously, Trump stated on Truth Social that the banking industry should reach a "reasonable agreement" with the crypto sector and should not oppose provisions allowing crypto platforms to offer yields on stablecoins, in order to push Congress to pass crypto market structure legislation as soon as possible. He also noted that the stablecoin regulatory bill GENIUS Act, passed last year, is being "threatened and undermined" by the banking industry.