Democrats to Push Broader Crypto Market Structure Bill After Sweeping US Midterms: Report

In brief

• House Democrats reportedly plan to expand Maxine Waters’ Crypto Investor Consumer Bill of Rights into a broader market structure bill that would give the SEC more oversight.
• Stand With Crypto’s endorsed candidates won 27 races and lost 12 with six still live.
• Analysts say the Clarity Act’s path has become tougher, but that it's not game over for the bill.

House Democrats are reportedly set to progress crypto legislation after sweeping the U.S. midterms.

There are plans to expand the Crypto Investor Consumer Bill of Rights—a Clarity Act amendment led by Dem. Maxine Waters—into a broader market structure bill, journalist Eleanor Terrett tweeted. The proposal would include giving the SEC more power to supervise the crypto markets and limiting the role of the CFTC, sources told Terrett.

On the surface, the midterm election results could be seen as a major hit to crypto policy in the U.S., with President Trump's Republican administration widely regarded as the pro-crypto party, while the Democrats were deemed more hostile. However, experts, told Decrypt, the tide might be turning and crypto policy evolving into a more bipartisan issue.

Crypto candidates and the Clarity Act

Advocacy organization Stand With Crypto endorsed 45 candidates in the midterms, per its election tracker, with 27 pro-crypto candidate wins, 12 losses, and six races still live at the time of writing. Nearly half of the endorsed candidates were Democrats.