Crypto5 Nov, 18:30 UTCUnited States

Democratic midterm sweep puts crypto market structure bill back in play

Democrats swept the U.S. midterms and plan to push a broader crypto market structure bill. Anthony Scaramucci said Trump's memecoin ventures derailed the CLARITY Act.

Scroll to read

Photo: Martin Falbisoner, CC BY-SA 3.0, via Wikimedia Commons

Crypto · 5 Nov, 18:30 UTC

Democrats won the U.S. midterm elections by a wide margin. The result has revived talk about the CLARITY Act, a bill meant to set rules for how crypto markets are structured.

Crypto

Democrats are expected to push for a broader version of a market structure bill. A market structure bill would define which agencies oversee crypto assets and how they are traded.

Crypto

Bitget Wallet expects the sweep to have limited impact on crypto trading. Another view held that the result lifted crypto prices as the bill returned to the agenda.

The rest of the story

Anthony Scaramucci, a financier, said the memecoin ventures tied to President Donald Trump derailed the CLARITY Act. A memecoin is a crypto token built around a joke or a theme, with no clear use.

People in this story

Anthony Scaramucci, Financier
Donald Trump, U.S. president

MoneyVision newsroom · Published 5 Nov, 18:30 UTC

This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them, and not read by a person before it was published. Report a mistake
Photo: Martin Falbisoner, CC BY-SA 3.0, via Wikimedia Commons

More news

Close-up of a Bitcoin physical coin in a womans hand and a laptop on her lap

Crypto5 Nov, 18:30 UTC risingBitcoin falls below $77,000 as tech selloff spills into cryptoBitcoin dropped to a seven-week low as US stocks gave back election gains. Hourly liquidations of leveraged bets neared $600 million.Bitcoindown −11.57%1 month

Crypto5 Nov, 18:30 UTCFed and OCC check U.S. banks after $6.3 billion Binance hackU.S. bank supervisors reached out to lenders this week after a $6.3 billion hack at Binance. A crime-fighting unit backed by Tether and Tron had wound down two months earlier.

Illustration: a paper stock certificate turning into a chain of glowing glass beads laid across a sunlit wooden desk

Crypto5 Nov, 18:30 UTCTokenized stock trading hits $1.11 billion as new Solana platforms launchJTX and Solana Labs launched new ways to trade tokenized stocks on Solana. Trading volume in these stocks reached $1.11 billion during a tech stock decline.Solanadown −26.03%1 month

Illustration: a heavy brass key snapped in half lying in front of a closed steel vault door in dim light

Crypto5 Nov, 18:30 UTCBinance and Deribit revoke SignalPlus API keys over possible security issueBinance and Deribit cut off API keys tied to the SignalPlus trading platform after a potential security concern. Binance asked users to check their positions and orders.

Young kid pointing light at the Bitcoin physical coin

Crypto5 Nov, 18:30 UTCBitcoin hovers near $80,000 after post-election rise and Bank of England hikeBitcoin traded near $79,600 on Thursday as oil rebounded and the Bank of England raised rates. The price keeps stalling at the $80,000 level.Bitcoindown −11.57%1 month

Seoul, South Korea skyline with Building 63, 2001

Crypto5 Nov, 19:30 UTCCrypto tax rules shift in South Korea, Greece and Hong KongSouth Korea plans to delay its 22% crypto gains tax to 2029, Greece taxes crypto gains at 10%, and Hong Kong passed a law on crypto tax reporting. Rules for crypto holders are changing in three places.