Galaxy Warns of Stalled Progress on Key Digital Asset Legislation as U.S. Congress Power Shift May Halt Policy Advancement

Odaily reports: Galaxy Research has released a U.S. midterm election assessment report, warning that if Democrats win both chambers of Congress, the crypto industry could face stricter congressional oversight—particularly with Elizabeth Warren expected to chair the Senate Banking Committee and Maxine Waters set to lead the House Financial Services Committee.

Galaxy Research Director Alex Thorn anticipates that congressional progress on key digital asset legislation may stall, stating that he does not expect Congress to make substantive progress on major digital asset legislation. However, the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and banking regulators can still continue to develop and clarify crypto asset regulatory rules under existing statutory authority. (NewsBitcoin)