Jinse reports that investment bank TD Cowen believes the Trump administration could bring positive changes for cryptocurrency entities working with banks, but expectations for this new regulatory environment should be "within reason." The Washington research team at TD Cowen, led by Jaret Seiberg, wrote in a report that banks are responsible for complying with anti-money laundering (AML) rules and the Bank Secrecy Act (BSA), and managing risks such as liquidity and concentration.
Analysts stated: "Even if Trump's regulators are no longer concerned about the increasing connection between traditional finance and cryptocurrency, this will make some banks remain cautious. That is why some banks may still think that the risks are too high while others will seize the opportunity. Additionally, some cryptocurrency entities may refuse any government oversight, which could limit banks' comfort level in working with them." However, Jaret Seiberg claims that under Trump's leadership, the connection between traditional finance and cryptocurrency will be "inevitable."