Democrats won control of both the House and the Senate, with the 5:28 a.m. count showing 51 seats against 39 in the Senate. The CLARITY Act, which was intended to divide cryptocurrency oversight between the SEC and the CFTC, will not be enacted before the current legislative session ends, creating a regulatory vacuum until the next appointments. Robert Garcia, who will chair the House Oversight Committee, is preparing investigations into the Trump family’s financial affairs as soon as February, with World Liberty Financial identified as a likely initial target. Bitcoin fell 1.6% during the vote count to around $76,600, while US spot Bitcoin ETFs recorded $398.6 million in outflows.
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