Crypto was a big winner on election night. The path towards a policy and regulatory framework for Web3 and DeFi is no longer murky. That is, in part, due to the election of a new incoming class of diverse legislators who are champions of crypto. In key competitive congressional races across the nation, candidates stumped on an agenda that embraced blockchain technology and digital assets. Here is a lineup of projected winners who support the nascent $2 trillion market.
Elected Members Of The 118th Crypto Congress
Alabama 2: Shomari Figures won election to Alabama’s second congressional district.
Arizona 3: Yassamin Ansari prevailed in contest to represent Arizona’s third congressional district.
Nevada 4: Incumbent Steven Horsford was reelected in Nevada’s fourth congressional district.
North Carolina 1: Incumbent Don Davis emerged victorious in a competitive fight to keep North Carolina’s first congressional seat.
Ohio Senate: Businessman Bernie Moreno defeated incumbent Senator Sherrod Brown in a fight to the finish.
Texas 32: Julie Johnson broke down barriers to clinch the open seat to represent Texas in Congress.
This slate represents a new generation of policymakers who understand the benefits of the emerging technology and can potentially tip the scales as Congress deliberates market structure and stablecoin legislation this spring.
Congressman Davis in May expressed support for the Financial Innovation and Technology for the 21st Century Act in an internal memo to congressional colleagues, which made the case that crypto “should not be a partisan issue.” Figures was a co-signatory on a July letter to the DNC urging Democrats to “take a forward-looking approach to digital assets and blockchain technology.”