Political Advantage Fades as Democrats Take Congress, Crypto Industry May Face Stricter Regulation

As Democrats win big in the midterm elections and take control of Congress, the crypto industry's political advantage in Washington is fading and it may face stricter rules, as well as closer scrutiny of Trump's crypto business. Democrats plan to propose stricter ethics restrictions and stronger consumer protections, and to give the SEC a greater role in digital asset regulation. Maxine Waters and Elizabeth Warren are expected to wield greater influence on the House Financial Services Committee and the Senate Banking Committee.