Meanwhile, the mid-term election in the US is also influencing and reshaping the regulatory landscape in terms of cryptocurrency amid the turmoil of the collapse of FTX in the crypto market.
With a clearer outcome for the result of the midterm election in the U.S., some analyses predict Republicans could reseize the control of Congress. The shift of balance of power and dynamic discourse power might affect the ongoing regulation of cryptocurrency and virtual assets.
Throughout the election campaign, many leaders and enterprises in the crypto industry try to expand their influence and abilities to lobby legislators by offering political donations to their candidates in favour.
Per Reuters, citing data from OpenSecrects, the report disclosed that FTX’s CEO Sam Bankman-Fried, known as SBF, has donated far more than others in the crypto industry, who is heavily involved in this mid-term election.
Data shows that…
