Korbit Report: The U.S. House Financial Services Committee and four other institutions will play a significant role in the formulation of cryptocurrency policies

The research center under Korbit has released a report analyzing the impact of Trump's new government policies on financial markets and virtual asset markets, as well as the potential effects of structural changes in major committees in both houses of Congress on virtual assets.

The report states that the original intention of Trump administration's fiscal policy was to promote economic growth, but there is a risk of expanding fiscal deficits and dragging down economic growth. Monetary policy may affect short-term interest rates, thereby having a positive impact on the stock market. Regulatory policies are expected to create favorable conditions for business operations by relaxing regulations in energy, finance, and consumer sectors, which could lead to lower inflation and national debt yields in the short term.

The report predicts that with Republicans controlling both Senate and House of Representatives, positive changes will occur in the virtual asset industry. Among them, Senate plays an important role approving heads of main regulatory agencies and passing bills. The analysis believes that if pending virtual asset bills are passed by Senate and House representatives, development clarity within this industry will improve.

In addition to this,the U.S. Senate Finance Committee ,House Financial Services Committee,and Agriculture Committees from both houses are considered key institutions playing significant roles in formulating virtual asset policies.The analysis also stated it would take some time before comprehensive legislation is completed and specific policy directions determined.(Zdnet)