1inch Lawyer: Regardless of midterm election results, U.S. crypto regulation will be primarily driven by federal agencies.

On November 4, according to Cointelegraph, during the voting for the U.S. midterm elections, Maylea Ma, Vice Chief Legal Counsel at 1inch, stated that the election results could influence the fate of the stalled CLARITY Act, but "substantial progress" in U.S. digital asset regulation over the next few years will primarily come from the SEC, CFTC, and Treasury Department, rather than Congress.

Ma noted that these agencies are increasingly engaging with crypto projects, but agency guidance cannot provide the legislative stability the industry seeks, with the long-term goal remaining statutory law that cannot be reversed by government transitions. Michael Ho, co-founder of the Doma Protocol team D3, also stated that the stagnation of the market structure bill has left U.S. crypto policy reliant on agency guidance that can be overturned by future administrations, prompting institutional funds to continue waiting on the sidelines.