US election update! Republicans secure majority seats, encryption-friendly faction wins, but the devil is still there?

The U.S. election is proceeding as hotly as ever, and besides the showdown between Trump and Biden, the competition for the Senate actually affects the future policy direction of Crypto Assets in the United States. Here we have organized some of the more important matchups as seen by foreign media. Some have results, and we will update them in real time!

Utah's Dispute: Curtis leads Gleich, gaining strong support from the encryption industry

After Senator Mitt Romney's impending retirement, the Utah Senate seat becomes the focal point battle between Republican John Curtis and Democrat Caroline Gleich.

Defend American Jobs Political Action Committee (part of the Fairshake Super PAC) has donated $1.9 million to Curtis' campaign as of mid-October, accounting for approximately 35% of his total fundraising. Curtis has introduced two encryption-related bills in this congressional session: the FIT21 Act and the CBDC Anti-Surveillance Nation Act. He also voted in favor of a bill that attempted to reject SEC SAB 121 guidance, which was ultimately vetoed by President Biden.

Curtis said at the Blockworks Permissionless conference held in Salt Lake City last month: 'It is very important to involve the government because if they don't understand what you are doing, they will make very bad decisions. The worst part of regulation is its unpredictability.'

Final result: John Curtis won 🔥(encryption-friendly)

Image source: 'Bloomberg' Utah won by the Republican John Curtis

Michigan Focus: Slotkin vs. Rogers, both sides are pro-encryption

The Senate race in Michigan is heating up, with incumbent Democratic Representative Elissa Slotkin facing fierce competition from former Republican Representative Mike Rogers. Pre-election polls show that Slotkin is slightly ahead of Rogers with 49% support compared to Rogers' 48%.

The unique aspect of this election is that both candidates are relatively supportive of Crypto Assets. Slotkin has received an A grade from the Stand With Crypto organization and voted in support of the FIT21 bill and overturning the SAB 121 bill. According to documents from the Federal Election Commission, the Democratic-aligned encryption-friendly organization Protect Progress Political Action Committee has invested over $10 million in Slotkin's campaign since late October.

Rogers also received an A grade from Stand With Crypto, despite having no voting record on Cryptocurrency during his tenure as a US Congressman from 2001 to 2015. However, he has consistently emphasized a pro-encryption stance throughout his entire campaign.

Current result: Mike Rogers leads (encryption-friendly)

Image source: Mike Rogers, a Republican, is currently leading in Michigan, according to Bloomberg.

Arizona Race: Gallego vs. Lake tug-of-war

The senatorial race in Arizona is equally intense, with a tight competition between Democrat Ruben Gallego and Republican Kari Lake. Both have received an A grade from Stand With Crypto.

Lake publicly supports Trump's statement that BTC is the 'last line of defense against foreign enemies' and accepts BTC donations during the campaign. Like Gallego and Slotkin, he votes in support of SAB 121 resolution and FIT21 bill. He has received up to 10 million dollars of support from Protect Progress.

Final result: Ruben Gallego wins 🔥 (encryption-friendly)

Source: Bloomberg Arizona was taken by Republican Ruben Gallego

The Massachusetts Battle: Deaton challenges Warren, the future of encryption policy is uncertain

In Massachusetts, prominent $XRP supporter and lawyer John Deaton is challenging incumbent Senator Elizabeth Warren in an election that could determine the future of US encryption policy. Deaton opposes the proposed Digital Asset Anti-Money Laundering Act by Warren, believing that it would restrict the ability of ordinary Americans to hold and self-custody BTC and other encryption assets.

Deaton said that Warren's bill effectively only allows banks, hedging funds, and the elite to own BTC, prohibiting the general public from self-custodying cryptocurrency. If Deaton wins, it may prevent the advancement of the bill and preserve individuals' right to use cryptocurrency. However, if Warren keeps her seat, she is expected to push for a stricter regulatory environment for cryptocurrency.

Final result: Elizabeth Warren wins 🔥 (anti-encryption camp)

Image source: 'Bloomberg'. Massachusetts won by the Democratic Party's Elizabeth Warren.

Ohio Showdown: Moreno Challenges Brown, encryption industry closely follow

In Ohio, the current chairman of the Senate Banking Committee, Sherrod Brown, a Democrat, faces a strong challenge from Republican challenger Bernie Moreno. Brown has long been seen as an opponent of the Crypto Assets industry, taking a conservative stance on promoting encryption-related legislation and not supporting the overturn of the SEC SAB 121 regulation.

Moreno makes Cryptocurrency a core campaign issue, promising to stop the implementation of Central Bank Digital Currency (CBDC) and to counter the forces trying to "destroy Cryptocurrency". According to federal documents, the Defend American Jobs political action committee (the encryption Super PAC associated with Fairshake) has invested over 19 million dollars in Moreno's campaign as of the end of August. As of November 1, Brown leads by only 0.3%, and the campaign situation is tense.

Final result: Bernie Moreno wins 🔥 (encryption-friendly)

Source: Bloomberg. Bernie Moreno, a Republican, wins in Ohio.

encryption policy in the future: encryption-friendly faction wins big!

The results of these critical Senate races will directly impact the future of Cryptocurrency policy in the United States. According to the latest data from Bloomberg, the Republican Party has successfully secured a majority in the Senate, with 51 seats for the Republican Party and 42 for the Democratic Party. Due to the Republican Party's party platform released in July of this year, which clearly expresses strong support for Bitcoin and an end to the so-called 'illegal and un-American Cryptocurrency crackdown' by the Democratic Party, it is expected to see the most supportive U.S. Congress for 'Cryptocurrency' ever.

In the five confrontations above, the victory of the encryption-friendly faction drew a perfect conclusion, looking forward to possibly paving the way for a more friendly regulatory environment in the future, promoting innovation and investment.

Source: Bloomberg The US Senate election counting in real time, the Republican Party has won a majority of seats.

【Disclaimer】There are risks in the market, and investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investment based on this is at your own risk.