TD Cowen: Increased Regulatory Pressure May Disrupt the Cryptocurrency Industry

ChainCatcher news, according to The Block, investment bank TD Cowen believes that increased regulatory scrutiny could disrupt the cryptocurrency industry.

Its report states that legislation shifting from the broader picture to specific company interests could "derail the industry," as the industry typically comes together to push a legislative agenda and receives coordinated lobbying support. However, when Congress begins to focus on a specific industry, companies start to pay attention to legislation that is favorable to them. This forces lawmakers to take sides within the industry, undermining overall progress.