Matt Hougan, Bitwise chief investment officer, argues that the younger incoming Congress could benefit crypto over the long term more than the Democratic takeover. Incoming senators are, on average, 14 years younger than those leaving, while the number of senators under 50 has risen from 8 to 15. The new House includes at least 94 Gen Z and millennial members, and 33% of millennials own crypto compared with 8% of baby boomers. Hougan also points to James Talarico, 37, who twice voted for a strategic bitcoin reserve in the Texas legislature. He nevertheless expects investigations into Trumpcoin and World Liberty Financial, as well as short-term market volatility. Democrats are also preparing a bill that would expand the SEC’s role, impose stronger custody and proof-of-reserve requirements, and introduce ethics rules for crypto activities involving senior US officials.
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