FORBES · 2026-11-05 13:38 UTC

Crypto Firms Have Two Months To Prepare For A Democratic Congress

Democrats won control of both chambers of Congress in midterm elections, making the Clarity Act crypto bill effectively dead with prediction markets giving it single-digit odds of passing before 2027. The crypto industry's $170 million in PAC spending, mostly backing Republicans, failed to deliver desired outcomes, with Democratic targets like Sherrod Brown winning their races. Crypto firms are advised to prepare for Democratic-led congressional hearings on consumer protection, illicit finance, and industry ties to the administration rather than expecting new legislation in the near term.

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