With help from Derek Robertson
Tomorrow is a big day for America, but what does it mean for crypto?
Overall, the composition of the next Congress is expected to be younger and more Republican, two trends that favor a more crypto-friendly environment on Capitol Hill.
But changes in control come with friction that could delay bipartisan efforts to regulate crypto at a time when the industry says it wants more clarity sooner.
So, here’s what to look for on Tuesday, and what to expect after that.
If Republicans take the upper chamber, Sen. Sherrod Brown of Ohio, one of the most outspoken crypto skeptics in Congress, will lose the chairmanship of the Banking Committee, with Tim Scott of South Carolina likely to replace him.
As our colleagues at Morning Money noted on Friday, Scott is “a blank slate on crypto policy,” so his ascension would be a wild card.
Meanwhile, Tuesday is expected to bring some young, new pro-crypto Republican faces to the Senate.
In Ohio, J.D. Vance is favored to win the state’s open sea