Summary
- Galaxy Digital said Democratic control of both chambers of Congress could make it harder to advance major cryptocurrency bills.
- Galaxy Digital said Elizabeth Warren and Maxine Waters are likely to lead the Senate Banking Committee and the House Financial Services Committee, respectively.
- Galaxy Digital and The Wall Street Journal said oversight and oversight and investigations of the crypto industry could intensify if Warren takes office.
Forecast Trend Report by Period
Galaxy Digital said Democratic control of both chambers of Congress could make it harder to advance major cryptocurrency legislation in the US.
According to the industry on Nov. 8, Alex Thorn, Galaxy Digital’s head of research, wrote in a post-election report on Nov. 6 that major crypto bills are unlikely to make meaningful progress in Congress.
Galaxy Digital highlighted the Senate Banking Committee and the House Financial Services Committee in particular. The two panels are the key congressional committees overseeing financial regulation and cryptocurrency legislation.
In the next Congress, Senator Elizabeth Warren and Representative Maxine Waters stand to lead the Senate Banking Committee and the House Financial Services Committee, respectively. Warren is regarded as one of the most prominent anti-crypto voices in Congress. Waters has sharply criticized President Donald Trump’s crypto business.
Galaxy Digital said that could lead Congress to strengthen its oversight of the crypto industry. The Wall Street Journal reported that if Warren becomes chair of the Senate Banking Committee, she would likely intensify oversight and investigations of Wall Street and the crypto sector.
JOON HYOUNG LEE
