Chris Giancarlo, former chairman of the CFTC, believes Democrats could rewrite the CLARITY Act after their midterm victory and send it to Donald Trump, forcing him to choose between signing it and issuing a veto. Maxine Waters would retain roughly 80 percent of the current text, while the new version would strengthen the SEC’s role at the expense of the CFTC’s. Overriding a veto would require a two-thirds majority in both chambers, and as of November 5, Democrats held 54 Senate seats against Republicans’ 44, with two seats still unassigned. If the bill is not enacted by January 3, 2027, it will have to be rewritten from scratch. Bitcoin was trading at $73,433 on Thursday, down 0.5 percent over 24 hours, according to CoinGecko.
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