Odaily Planet Daily reports: The Democratic Party's significant victory in the U.S. midterm elections may alter the policy environment for the cryptocurrency industry in Washington. With Sherrod Brown, a critic of the cryptocurrency industry, returning to the Senate and Elizabeth Warren continuing to exert influence in financial policy, the new Congress may focus more on investigating Trump’s personal cryptocurrency dealings, including his associated project World Liberty Financial, rather than advancing industry-friendly legislation such as the CLARITY Act.

Sharplink CEO Joseph Chalom expects the CLARITY Act to remain stalled until 2028. TD Cowen analyst Jaret Seiberg believes the CLARITY Act is unlikely to make progress over the next two years, and the current political environment may prevent even industry-supported versions of the bill from advancing. However, industry participants such as Circle emphasize that the crypto industry has bipartisan support, with lawmakers from both the Democratic and Republican parties backing crypto; even if the CLARITY Act is delayed, progress could still be made in areas such as stablecoins and tokenized stocks through existing laws and regulatory agency rulemaking. (CNBC)