US midterm elections may shift Congress toward stricter crypto regulation, making it difficult for the Clarity Act to advance.

October 28 - The U.S. midterm elections will be held next week. Prediction market data shows that the probability of the Democratic Party winning the Senate and the House of Representatives is 64% and 90%, respectively. If Congress changes hands, the crypto agenda may shift from promoting legislation to strengthening regulation, and the Clarity Act is expected to be difficult to advance.

Democratic Senator Angela Alsobrooks stated that a Democratic-controlled Congress will not prioritize the bill. If the Democratic Party wins the Senate, Warren will become the chair of the Senate Banking Committee. Ron Hammond, policy director at Wintermute, expects that Warren will use subpoena power and focus on reviewing the OCC (Office of the Comptroller of the Currency)'s approval of new bank charters for Ripple, Coinbase, and World Liberty Financial.