Bitwise CIO comments on Democratic control of Congress and crypto impact

Bitwise CIO Matt Hougan stated that Democratic control of the U.S. Congress following the midterm elections may have a limited long-term impact on the crypto industry. He noted that the next Congress is expected to have 51 crypto-friendly senators, a slight decrease from 52 in the current Congress. In the House, at least 241 lawmakers are considered crypto-friendly, maintaining a majority. Although Democrats are anticipated to control both chambers, the overall age of lawmakers has decreased, which Hougan believes could positively influence the long-term crypto policy environment. He also mentioned that increased investigations into crypto projects associated with the Trump family could present short-term risks.

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