Analyst Explains What a Democratic Midterm Sweep Means for Crypto

A Democratic win would only move sentiment, one analyst argues, because crypto market rules in the US Congress are a bipartisan effort. Crypto commentator Tyler D has said that a Democratic takeover of Congress in the November 3 US midterm elections could slow crypto legislation and bring tougher regulatory conditions, but it may also benefit privacy cryptocurrencies. According to the analyst, even if the next two years bring less regulatory progress, the industry has grown too large to be stopped by a change in political leadership. Slower Crypto Progress but Potential Gains for Privacy Coins In a video published by Decrypt ahead of the elections, Tyler D suggested that a Democratic sweep would mean less progress for the industry, although privacy coins could benefit from the resulting regulatory climate. “The first-order take on the Dem situation for crypto is not that bad,” he remarked. “Overall, you’re going to have less progress, but then it’ll be good for privacy coins.” The discussion also touched on the difference between legislation and regulatory rulemaking, with the analyst explaining that the SEC and CFTC can introduce and change rules but cannot independently pass laws...