The loss of Brown, the Democratic chairman of the Senate Banking Committee, also contributed to the Republicans seizing the Senate majority, meaning Brown's committee will have a new GOP chairman who will likely welcome crypto legislation rather than leave it in limbo, as Brown had.
Having $169 million to spend on U.S. congressional elections can produce fast results in Washington, as the crypto sector's campaign-finance blitz this year helped rid it of a powerful Democratic senator who stood in the way of legislation and also populated Congress with a large number of new friends.
With former President Donald Trump on the verge of securing enough electoral votes to return to the White House, the industry could also - for the first time - have an outspoken ally in the presidency.
The crypto sector's need for a friendly U.S. president became less urgent on election night as the Senate shifted toward the Republicans who've promised digital assets legislation.
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