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TD Cowen: Midterms Could Stall CLARITY Act and Favor Crypto Sector
TD Cowen, a financial analyst, predicts that a Democratic sweep in the upcoming midterm elections could stall the CLARITY Act, a bill aimed at setting rules for digital assets. The analyst suggests that under this scenario, key figures like Senator Elizabeth Warren, who is skeptical of cryptocurrencies, might become the chair of the Senate Banking Committee, potentially leading to tougher oversight of federal regulators. Conversely, a close Senate race could result in a better outcome for the crypto sector, with Republicans maintaining control of the House and key positions, allowing for the adoption of favorable policies such as tokenization, perpetual futures, and stablecoins.