Nov 8, 2026
Crypto’s extraordinary run of political good fortune in Washington has come to an abrupt halt. With Democrats set to control Congress following their midterm sweep, the industry faces the prospect of tougher rules and closer scrutiny of its ties to President Donald Trump.
For two years, the industry enjoyed something few businesses ever get in the nation’s capital: a president who made digital assets a national priority while amassing his own crypto fortune, regulators clearing a path for wider adoption, and a Republican Congress sympathetic to its agenda.
Now crypto faces the harder test of becoming a lasting force in finance as its extraordinary political advantage evaporates. The Democratic sweep threatens to make comprehensive legislation harder to secure on the industry’s preferred terms and raises the prospect of congressional investigations into Trump’s crypto dealings.
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Source: The Japan Times · Teresa Xie
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