Korbit Report: U.S. House Financial Services Committee and other four agencies will play an important role in crypto policy making

The research center of Korbit, a Korean virtual asset exchange, released a report analyzing the impact of the new Trump administration's policies on the financial market and the virtual asset market, and also analyzed the potential impact of structural changes in major committees of the Senate and the House on virtual assets. The report said that the Trump administration's fiscal policy was originally designed to promote economic growth, but there is a risk of expanding fiscal deficits and dragging down economic growth. Monetary policy has the potential to affect short-term interest rates, thereby having a positive impact on the stock market. Regulatory policies are expected to create a favorable environment for business operations by relaxing regulations in the energy, financial and consumer sectors, and may lead to lower inflation and lower Treasury yields in the short term. The report predicts that the virtual asset industry will undergo positive changes if the Republicans control both the Senate and the House of Representatives. Among them, the Senate plays an important role in approving the heads of major regulatory agencies and passing bills. The analysis believes that if the pending virtual asset bill is passed in the Senate and the House of Representatives, the development of the virtual asset industry and the clarity of regulation will be improved. In addition, four institutions, including the Senate Finance Committee, the House Financial Services Committee, and the Senate and House Agriculture Committees, are considered to play an important role in the formulation of virtual asset policies. At the same time, the analysis said that it will take some time to complete comprehensive legislation and determine specific policy directions. (Zdnet)