CLARITY Act Could Face 2-Year Delay After Republican Midterm Losses: Analyst

The debate extends beyond the CLARITY Act, with the analyst warning that exchanges and stablecoins could also face tighter federal rules. The Democratic Party’s takeover of both chambers of the US Congress could leave the crypto industry waiting for at least two years for the CLARITY Act. This is according to analyst Ash Crypto, who says that the results have complicated President Donald Trump’s plans for the US to become a global hub for crypto. Democrats Midterm Victory Complicates CLARITY Act’s Prospects In a November 5 post on X, Ash recalled that Democrats unanimously opposed the legislation during a Senate vote in September, denying Republicans the 60 votes they needed to advance it. And now, with the party flipping seven seats in the midterms to take its numbers in the House to 54, the analyst says things will only get much more difficult. “Republicans will now need Democratic support to pass major pro-crypto legislation, and with Democrats’ anti-crypto stance, it looks tough now,” wrote the analyst. He also suggested that the Dems could push for much more severe rules on digital assets and crypto exchanges, with plans reportedly in the works to give the SEC more oversight w...