Cryptocurrency Securities ‘Won’ Election, Now Unlikely to Be Regulated

A Nov. 25 wrap-up in CNBC, on the success of crypto tech companies and venture capitalists in shaping the new Congress, focused on the ousting of Democratic Senate Banking Committee Chairman Sherrod Brown (OH), by a relative political unknown named Bernie Moreno (R-OH), who was the beneficiary of $40 million in political advertising by a cryptocurrency PAC. It reports the impressive fact that about half of all corporate spending in this election cycle was from cryptocurrency backers, who put $245 million into the PAC. Some 300 members of the 119th Congress, according to CNBC’s account, are now pro-crypto—as is, apparently, President-elect Trump, in a change of his previous dismissal of cryptocurrency.