The crypto industry breaks up with the comfortable US Congress: after the elections on November 3, the majority in both chambers goes to the Democrats. Over the course of two years, President Donald Trump accustomed her to the patronage of Washington, and his family became a major participant in the crypto business. In the new Congress, it is these connections that will be scrutinized. The alliance with the president burdens the industry with someone else's family accounting.
The concessions have already brought results. In February 2025, the Securities and Exchange Commission, SEC, dropped the lawsuit against Coinbase, citing a review of its regulatory approach. Long-term rules are legally binding. The promotion of the Clarity Law on September 15 was supported by 49 senators, out of the required 60. Supporters of reform rely on the demands of Democrats even with a Republican majority. Starting in January, the opposition to Trump will be able to determine which reform option the committees will bring up for discussion.
The proposed delegation gives much of the trading of digital commodities to the Commodity Futures Trading Commission, CFTC, and exempts some subjects from registration with the SEC. Behind the legal definitions is the obligation of the seller to provide information to the buyer. The top Democrat on the Senate Banking Committee, Elizabeth Warren, is pushing to maintain investor protections and prohibit officials from enriching themselves personally through the industry they regulate. The vote in September gave this demand practical validity: without concessions, the law stalled.
Binance has added a technical dimension to the customer protection debate. According to the exchange's report, the attack on October 29 damaged assets worth 6.34 billion dollars. Binance took responsibility for the refund. The suspension of withdrawal left the illegally acquired rights to be transferred in effect, and the theft continued. The security inspection must expand the operator's ability to deny such rights. The top Democrat on the House Financial Services Committee, Maxine Waters, called for tougher cybersecurity requirements on Oct. 30.