Galaxy Research: Crypto legislation may stall if Democrats control the US Congress.

A report released by Galaxy Research states that if Democrats win both houses of Congress, the crypto industry will face stricter congressional oversight, with Elizabeth Warren potentially becoming chair of the Senate Banking Committee and Maxine Waters potentially leading the House Financial Services Committee. Galaxy Research Director Alex Thorn predicts that progress on key digital asset legislation in the U.S. Congress will stall and will not yield substantial results. The U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and banking regulators can still formulate and clarify regulatory rules for crypto assets under existing legal authorization.