BlockBeats news, on November 6, according to Decrypt, the Republican Party has today confirmed control of the Senate, and according to data from Stand With Crypto, a total of 247 pro-cryptocurrency candidates have won seats in the House of Representatives, while there are only 113 members opposing cryptocurrency. Industry insiders are optimistic about the potential for supportive regulation in Congress.
The House of Representatives has more members and represents a diversity of views, typically initiating legislation, while the smaller, more conservative Senate usually reviews these proposals. Since both the House and Senate tend to support cryptocurrency, a favorable legislative path may be smoother. Coinbase CEO Brian Armstrong praised the election results as a watershed moment for cryptocurrency. Armstrong wrote on Twitter: 'Welcome to the new members of Congress who are the most pro-crypto in U.S. history.'