Washington’s crypto agenda hinges on next week’s midterm elections, according to a new policy note from TD Cowen, shared with Bitcoin Magazine. 

Analyst Jaret Seiberg warned in the note that the probable results could make it difficult for Congress to pass the CLARITY Act over the next two years. The bill would set the rules for bitcoin and other digital assets, and the industry has spent $176 million on more than 100 races to shape the outcome. Here are a couple of the results:

A Democratic sweep is the most probable outcome

Prediction markets cited in the report give Democrats a 90% chance of winning the House and a 62% chance of winning the Senate. TD Cowen considers…

Read more on BitcoinMagazine