"The results are going to impact action and some of that in the long-term may be crypto - it's going to be a part of that conversation," he said. Chris Kline, co-founder and chief operating officer at Bitcoin IRA, agreed that a near-term reaction could be a lot to ask, but that the election nevertheless will drive the policy outlook over the next two years. Treasury (among other regulatory bodies) are in the meantime likely to keep establishing the 'rules of the road' across the crypto regulatory landscape," commodities analyst Aakash Doshi said in a note Thursday. "Although we think worth noting that crypto bills introduced by various Congressional committees have been a rare example of consistent bipartisanship in Washington, D.C., either way, enforcement actions via the SEC, CFTC and U.S. They say the midterm elections and the new shape of Congress could affect how the legislative process unfolds. government has been actively working to increase its regulatory footprint in the crypto industry – highlighting President Joe Biden's executive order at the beginning of the year, as well as several key proposals introduced by Congress since. As a riskier asset class, crypto is obviously part of that equation." Citigroup analysts noted that the U.S. "This is why we've historically seen stronger fourth quarters in election years. "Even though elections don't drive the long-term path of markets, they can impact how people think about risk," said Callie Cox, U.S. However, many investors are taking a longer view on what the vote portends. There's a good chance the midterm elections will hardly dent the price action in the days that follow.
Lawmakers and regulatory agencies have scrambled to sharpen their understanding of the fledgling sector, while the industry itself has beefed up its lobbying. Crypto has exploded in popularity and growth in the past few years, catching governments unprepared. The industry has long been frustrated about the lack of a clear governing body, old laws they say should be modernized for a digital-first world and a general lack of understanding of the complex technology underpinning cryptocurrencies that lead to misconceptions that could hurt the market. The midterm elections are next week, and some investors are closely watching the outcome for an idea of how the next Congress's lawmakers will approach cryptocurrency over the following two years. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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