On Tuesday, November 8th, the United States will hold mid-term elections. These are important because they will determine which party will control Congress for the next two years.
There is a lot of speculation about what could happen with cryptocurrency if one party or the other gains control. The Republicans have been more supportive of cryptocurrency, while the Democrats have been more critical. So far, there has not been much action taken by either party on this issue. Only time will tell what happens in the coming months and years!
The cryptocurrency industry will be keeping a close eye on the results of the United States mid-term elections. If the Republicans maintain control of both the House and the Senate, it is likely that there will not be much action taken on cryptocurrency regulation in the near future. The cryptocurrency industry would probably prefer this outcome, as more regulation could hurt the industry. However, it is worth noting that some Republicans have been critical of cryptocurrency as well. So even if they maintain control, there is no guarantee that things will stay the same.
If the Democrats gain control of one or both houses of Congress, it is possible that we could see more action on cryptocurrency regulation. The Democratic Party has been more critical of cryptocurrency, and some members have called for greater regulation. It is also worth noting that some Democrats have been supportive of cryptocurrency. So even if they gain control, there is no guarantee that things will change.
The impact this election could have on cryptocurrency is definitely something to watch. You may not have a direct investment in crypto but it may still impact the world around you. Crypto took the world by storm when it first came about it in 2009, with its’ many doubters and speculations about where it came from and how volatile it was. But, in present day crypto is used in all sorts of ways, whether it be for gambling online in crypto poker to buying a Tesla, crypto has definitely made an impact. The question still is what type of impact did it have? Was it a positive or negative impact? We can argue both sided. But we don’t have time for that today. Whether you are for or against it, it has definitely had an effect on our economy and the world. One thing we can attest to is the fact that it brought wealth to many early adapters of the market and helped contribute to the countries GDP.
So, whether you are a democrat or a republican be sure to keep in mind the impact that each respective party will have on your future. The control of congress should not be only looked at through the lenses of whose goals align with yours but also, those leaders who have the same moral and subjective reasoning as you do. Goals and expectations can change quite regularly but morals tend to remain constant.
What’s important to remember is that regardless of who controls Congress, the cryptocurrency industry is still in its early stages. There is a lot of uncertainty about what the future holds, and anything could happen. So, make sure you do your own research before investing in any cryptocurrency and understand that it is a longer-term investment.
