Democrats Win Senate Control; CLARITY Act Still Stalled

The shift matters less for what it changes in law than for who controls the committee that would have to move market-structure legislation. With the CLARITY Act already stuck after a failed procedural vote, a Banking Committee led by a longtime crypto critic makes the path to floor action harder, not easier. The practical effect lands on issuers and platforms that had been positioning around a clearer U.S. framework. Whether the bill's stalled status hardens into a longer freeze, or whether a narrower compromise emerges, is the open question worth tracking.