As a researcher who has spent years delving into the world of cryptocurrencies and politics, I find myself at a fascinating juncture as the GOP takes control of both chambers of Congress and the White House. This development could potentially reshape the regulatory landscape for digital assets in the coming years.
As a researcher studying political dynamics, I find myself projecting that the Republican party will retain control over the U.S. House of Representatives following the upcoming elections. This outcome, coupled with their majority in the Senate and the election victory of Donald Trump, would provide the party with complete authority over the government, marking a significant shift in power.
At 12:13 am UTC on November 12th, Decision Desk HQ declared the House race, predicting that the GOP would secure the required 218 seats for a majority. This prediction was made after they projected Republican Juan Ciscomani would retain his seat as the representative for Arizona’s 6th congressional district.
Based on information from Decision Desk HQ, there are eight open seats remaining to be filled. At this moment, the Republican Party holds the lead in Alaska’s sole seat and three California districts that are yet to be decided. On the other hand, the Democrats have a slight advantage in all the other ongoing races.
Starting from January 2025, the new Congress and White House will assume power. This marks an unusual occasion as it is predicted that this would be the first time since the middle of President Trump’s final term in 2019 that the Republicans would control all three branches of government – the executive branch and both houses of the legislative branch – a situation known as a “government trifecta.
If no action is taken on two proposed cryptocurrency bills supported by Republicans during the current congressional session, also known as the “lame-duck session,” there’s a possibility that these bills could move forward next year for consideration.
The Financial Innovation and Technology for the 21st Century Act (FIT21) was halted in the Democratic-controlled Senate following its passage in the House in May, much like how the Clarity for Payment Stablecoins Act came to a standstill in the House.
As a political analyst, I find myself in the midst of an unprecedented wave of crypto-friendly sentiment within the upcoming Congress. The Kobeissi Letter, a notable source, points out that a staggering 50 out of the 58 candidates endorsed by pro-crypto Political Action Committees (PACs) have emerged victorious, as reported in October by Politico.
This statement can be rephrased as: “Crypto’s impact on elections has never been as significant as it was this year, and there is no comparison.
Opinion: GOP crypto maxis almost as bad as Dems’ ‘anti-crypto army’
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2024-11-12 06:38