At the time of publication, it is still unclear which political party will have majority control of the House and Senate starting in January. Democrats and Independents have held 50 seats in the Senate since the 2020 election and were able to flip the seat of Pennsylvania Senator Pat Toomey — also a crypto advocate — with the victory of John Fetterman in the midterm election.
“It’s not only the importance of which party wins each house of Congress, but then it gets down to the committee members,” Jeff Howard, North American head of business development at digital assets platform OSL, told Cointelegraph prior to Election Day. “The Republicans win, obviously [Patrick McHenry] is going to be the chairperson [...] so I would see more bills coming out of the House than you’ve seen in the Democratically controlled House of Representatives.