U.S. midterm elections could push Congress to shift toward stricter crypto regulation, making the Clarity Act unlikely to advance.
1 hours ago
U.S. midterm elections will take place next week. Prediction market data puts Democrats’ chances of winning the Senate at 64% and the House at 90%. If control of Congress changes hands, crypto policy could shift from pushing legislation to ramping up regulation, and the Clarity Act is unlikely to advance. Democratic Senator Angela Alsobrooks noted a Democratic-led Congress will not prioritize the bill. If Democrats capture the Senate, Elizabeth Warren will serve as chair of the Senate Banking Committee. Wintermute’s Head of Policy Ron Hammond predicts Warren will use subpoena power to focus on reviewing the Office of the Comptroller of the Currency (OCC)’s new bank license approvals for Ripple, Coinbase, and World Liberty Financial.
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