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Crypto Faces Tougher Congress as Financial Pressures Mount

Crypto Faces Tougher Congress as Financial Pressures Mount

Artificial intelligence (AI) is not the only technology facing a rockier road in Washington after the midterm elections. With Democrats winning control of both chambers of Congress, the crypto industry faces greater scrutiny and a narrowing opportunity to secure the federal market rules it has sought, even as financial pressures weaken investor appetite for digital assets.

The immediate legislative issue is the Clarity Act, which would define how federal regulators oversee different crypto assets and trading activities. Unless lawmakers revive the measure during the lame duck session, its supporters will have to begin a new legislative effort when the Democratic Congress takes office in January, Decrypt reported.

A return to the same…

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