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What the US Midterm Elections’ Lack of a ‘Red Wave’ Means for Crypto

The Breakdown

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Crypto and the House Blockchain Caucus

Early results have Josh Gotheimer and Richie Torres, two Democrat members of the Congressional blockchain caucus retaining their seats. Warren Davidson, the author of the Token Taxonomy Act, has retained his seat as has Republican Patrick McHenry. For crypto control over the committees will be key in forming forthcoming legislation on stablecoins, market structure, and possibly even establishing a comprehensive regulatory framework.

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