The Republican Party holding the majority in the Senate could mean that the US Congress will be more supportive of cryptocurrency

News from November 6th, the Republican Party in the United States has gained control after securing key Senate seats in Ohio and West Virginia. This means that the Republicans now hold a majority in the U.S. Senate, which brings a bright prospect for cryptocurrency regulation. The Republican-led Senate is expected to introduce clearer cryptocurrency regulations, indicating that the U.S will shift towards policies favorable to this industry.

It is reported that the U.S. Senate may eventually clarify cryptocurrency regulatory provisions. The new session of the Senate might review delayed business-friendly bills such as "Digital Commodities Consumer Protection Act", which would grant exclusive jurisdiction over digital asset trading to Commodity Futures Trading Commission (CFTC).