Democrats claim control of the US Senate

Democrats have won control of the US Senate, according to the Associated Press.

The majority was secured after Democrat Senator Josh Turek won the Senate race for Iowa, bringing Democrats and independents who caucus with them to 51 seats.

The result reshapes the outlook for the stalled CLARITY Act and determines which lawmakers lead committees overseeing the industry.

Democratic control could also bring more congressional scrutiny of Trump-linked crypto businesses and regulators’ decisions. Control of the Senate could also affect confirmation of future presidential nominees to regulatory posts.

“It’s too early to say exactly what this means for crypto, but one thing is clear: nothing will pass without cross-partisan support,” Jerome de Tychey, president of Ethereum France and co-founder of EthCC, told Cointelegraph.