US Congress · CLARITY Act · The Block
Crypto braces for potential shift in congressional oversight after midterms
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After years of pushing for legislation, the digital asset sector could find itself navigating a different political landscape under a new Congress because of next week's midterm elections.
Key facts
- As Chair, Brown criticized a crypto market structure bill in 2022 called the Digital Commodities Consumer Protection Act, which had become closely associated with now-jailed former FTX CEO Sam
- Some Democrats have signalled that they want "generational change," given that Waters is 88 years old and Casten is 54, according to reporting from Politico
- Both the Senate and House Agriculture Committees are viewed as being more bipartisan compared to the Senate Banking Committee and the House Financial Services Committee
- Over the past two years, a Republican-led Congress passed a stablecoin law dubbed the GENIUS Act and worked on the broader Clarity Act, which passed the House in 2025
Summary
That could feel like whiplash as a new Congress shifts its focus from advancing digital asset legislation to ramping up oversight, while potentially revisiting a scaled-back version of the Clarity Act. Over the past two years, a Republican-led Congress passed a stablecoin law dubbed the GENIUS Act and worked on the broader Clarity Act, which passed the House in 2025. Sources who spoke with they expect the legislative dynamics to change for crypto, as polls show that Democrats have a high likelihood of taking back Congress. " Forget politics, if you believe the prediction markets, one or both houses may become led by Democrats," former New York Governor Andrew Cuomo said in a call with reporters last week.