SEC Commissioner Caroline Crenshaw's disapproval of agency's stablecoin claim could complicate legislative efforts: TD Cowen

A divide in opinion over stablecoins between SEC Commissioner Caroline Crenshaw and the SEC could be “another roadblock” for stablecoin legislation, according to a note from TD Cowen.Over the past few weeks, committees in the House and Senate have advanced bills to regulate that set parameters around reserve requirements, among other standards for stablecoin issuers.