Korbit Report: Four institutions including the U.S. House Financial Services Committee will play an important role in cryptocurrency policy-making

Odaily Planet Daily News: The research center under Korbit, a South Korean virtual asset exchange, has released a report analyzing the impact of Trump's new administration policies on the financial and virtual asset markets, as well as the potential impact of structural changes in the main committees of the House and Senate on virtual assets. The report states that the Trump administration's fiscal policy was designed to promote economic growth, but there is a risk of widening fiscal deficits and dragging down economic growth. Monetary policy may affect short-term interest rates, thereby having a positive impact on the stock market. The regulatory policy is expected to create a favorable environment for enterprise operation by relaxing the regulation of energy, finance and consumption fields, and may lead to the decline of inflation and the decline of treasury bond yield in the short term. The report predicts that with the Republican Party controlling both the Senate and the House of Representatives, there will be positive changes in the virtual asset industry. Among them, the Senate plays an important role in approving the heads of major regulatory agencies and passing bills. Analysis suggests that if the pending virtual asset bill is passed in the Senate and House of Representatives, the clarity of the development and regulation of the virtual asset industry will be improved. In addition, four institutions including the Senate Finance Committee, House Financial Services Committee, and Senate Agriculture Committee are considered to play important roles in the formulation of virtual asset policies. Meanwhile, analysis suggests that it will take some time to complete comprehensive legislation and determine specific policy directions. （Zdnet）