PANews reported on November 6 that according to Cointelegraph, the Republican Party has gained majority control of the U.S. Senate, bringing bright prospects for cryptocurrency regulation in the U.S. Anastasija Plotnikova, CEO and co-founder of Fideum, a regulatory and blockchain infrastructure company focused on institutions, said that more than 240 candidates who support cryptocurrencies were elected to the House of Representatives and Senate, which is a "historic achievement" for the United States to clarify cryptocurrency regulation.
Intergovernmental blockchain expert Anndy Lian said the Republican-controlled Senate may finally clarify U.S. cryptocurrency regulation, and the new Senate may review delayed business-friendly bills such as the Digital Commodity Consumer Protection Act, which would give the Commodity Futures Trading Commission (CFTC) exclusive jurisdiction over digital asset transactions.
James Davies, CEO of Crypto Valley Exchange, said that controlling the majority of the Senate is at least as important to the future of cryptocurrency regulation as the president, which could significantly change the SEC's regulation of the cryptocurrency field. Davies hopes that former Commodity Futures Trading Commission Chairman Chris Giancarlo will be nominated to replace Gensler's seat at the SEC. The crypto industry believes that the 2024 presidential election is a good thing, and Coinbase co-founder and CEO Brian Armstrong called it "the most pro-crypto Congress in American history," which will promote clearer crypto regulation.
