California · Donald Trump · Democrats · CLARITY Act · CoinDesk
If crypto goes back to the congressional drawing board, 3 Democrat women loom large
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Next January, there's a strong chance that U.S. Representative Maxine Waters will steer the destiny of legislation to establish crypto market rules.
Key facts
- The betting on Kalshi predicts a Democratic House majority at an 84% likelihood, though that chance is much less ( a 47% coin toss) for the Senate, where Democrats face a tougher election battlefield
- However, the California lawmaker also had once negotiated an earlier stablecoin effort inches from the finish line in 2022, a predecessor to last year's successful Guiding and Establishing National
- Regardless of how you feel about crypto, we can't ignore it," said Blockchain Association CEO Summer Mersinger in a CoinDesk interview
- Next January, there's a strong chance that U.S. Representative Maxine Waters will steer the destiny of legislation to establish crypto market rules
Summary
If the crypto Clarity Act sinks this year, the same four congressional committees that worked on it will be central to whatever happens in the new session of Congress, and odds favor at least two of them being run by Democrats critical of crypto. The U.S. House of Representatives is the most likely to flip to Democrat control, which could leave Representative Maxine Waters in charge of the House Financial Services Committee and Shontel Brown running the House Agriculture Committee, both of them with histories opposing crypto bills. For the industry, it potentially gets significantly worse if the Senate also changes hands. Next January, there's a strong chance that U.S.