The shift in power will impact negotiations around new rules for digital assets, giving Republicans increased leverage in Congress to influence policy around stablecoins and oversight of crypto’s spot markets, as well as the ability to put more oversight pressure on regulators.
Republicans will control the U.S. House of Representatives next year, the Associated Press projected.Republicans are poised to take control of the House of Representatives next year, a shift that could have a major impact on the crypto industry as regulators and lawmakers seek to establish new rules for digital assets.
The shift in power will affect negotiations on new rules for digital assets, giving Republicans increased leverage in Congress to influence policy around stablecoins and oversight of crypto’s spot markets, as well as the ability to put more oversight pressure on regulators. But due to the split control of Congress, Senate rules and continued Democratic control of the White House and Senate, any bills will require bipartisan support to become law.
Crypto legislation is expected to have a better chance to become law than policy in most other issue areas, given the relatively fresh debate around the topic, which has yet to become a fully partisan issue. But the recent implosion of FTX, with the impact of its fall reverberating across the digital asset industry, could complicate that.
Republicans will hold at least 218 House seats — the number needed for a majority in that chamber — a number that could grow with seven races yet to be fully determined. Rep. Patrick McHenry, R-N.C., is poised to chair the House Financial Services Committee. The North Carolina Republican, a longtime leader on fintech policy issues ranging from crowdfunding to crypto, has worked on creating a new legal framework on stablecoins with his Democratic counterpart, current Committee Chair Maxine Waters, D-Calif. The two also announced a
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Republicans secure majority in House of RepresentativesThe GOP secured a majority in the House of Representatives after the Associated Press projected that Republican Mike Garcia will win reelection in California's 27th district.
Les mer »
Republicans win slim majority in House of RepresentativesBREAKING: The GOP secured the 218th seat needed to control the lower chamber of Congress.
Les mer »
US Republicans win control of House of RepresentativesPresident Joe Biden congratulates his Republican opponents for winning control of the US House of Representatives and says he was willing to work with them and serve the American people.
Les mer »
House of Representatives Midterm Election 2022: Live Updates, Results & MapThe latest results and live updates on the 2022 midterm House of Representatives elections by state. See how many seats Republicans or Democrats have gained or lost.
Les mer »