Is the Clarity Act likely to pass before the new Congress?

Unlikely, according to figures quoted by The Block on Oct. 28, 2026. Andrew Cuomo, an OKX board director, said he does not expect anything in the lame-duck Congress. Sen. Angela Alsobrooks said passage there is possible but unlikely, and that Republican leadership was done negotiating.

Who could chair the key committees if Democrats win?

The Block reports Elizabeth Warren would chair Senate Banking if Democrats take the Senate. Wintermute's Ron Hammond said Sherrod Brown could chair Senate Agriculture if he wins his race. Maxine Waters is expected to resume leading House Financial Services but faces challenges from Reps. Sean Casten and Bill Foster.

What does the industry say about the shift?

Lindsay Fraser, Chief Policy Officer of the Blockchain Association, told The Block that control of Congress may change but the need for clear crypto rules will not. Sen. Warren said a crypto bill is achievable but would require Republicans to stand up to Donald Trump.

Crypto Policy Risk Shifts If Democrats Win Congress

A Democratic Congress would put crypto under committee scrutiny while the Clarity Act stays stalled, The Block reports. The odds are market prices, not forecasts.

The Clarity Act is unlikely to pass soon, and a Democratic Congress would move crypto policy from legislation toward oversight. The Block reported on Oct. 28, 2026 that Kalshi priced Democratic control at 64% for the Senate and 90% for the House. Elizabeth Warren would chair Senate Banking if Democrats win that chamber.

The Ledger Desk October 29, 2026 Updated October 29, 2026 · 3 min read

The Block reported on Oct. 28, 2026 that the Clarity Act passed the House in 2025 and has stalled in the Senate over stablecoin rewards and President Trump's crypto holdings.
As quoted by The Block on Oct. 28, Kalshi priced Democratic control at 64% for the Senate and 90% for the House. These are market prices that move and are not election results.
Sen. Angela Alsobrooks told The Block a Democratic Congress would "absolutely not" prioritize the Clarity Act, and called passage in the next Congress "not realistic."
Wintermute's Ron Hammond told The Block that a Senate Banking chair Elizabeth Warren would likely be aggressive, including with subpoena power. That is his prediction, not a fact.
Desk judgment, not a sourced fact: if the odds hold, stablecoin and custody firms should expect more scrutiny of governance and conflicts than new statutory clarity.

Crypto policy faces a different Congress after the midterms, and the market-structure bill is not expected to be finished first. The Block reported on Oct. 28, 2026 that the Clarity Act, which passed the House in 2025, is stalled in the Senate. The same report cites prediction-market odds favoring Democrats in both chambers. A Democratic majority would more likely use committee gavels for oversight than to complete the bill.

Why the Clarity Act is stalled

The Clarity Act is stalled in the Senate over disputes that include stablecoin rewards and President Trump's crypto holdings, according to The Block's Oct. 28, 2026 report. Sen. Angela Alsobrooks, who the outlet says was significantly involved in negotiations, said Republican leadership was done negotiating. The bill has not been enacted, and none of those disputes has been reported as resolved.

What the odds say about committee control

The Block quoted Kalshi at 64% for Democratic control of the Senate and 90% for the House, as of its Oct. 28, 2026 article. These are market prices that move, not forecasts or results, and the figures here come second-hand from The Block, not from Kalshi. The Block reports Elizabeth Warren would chair Senate Banking if Democrats win the Senate. Wintermute's Ron Hammond said she would likely be aggressive, including with subpoena power. That is his prediction.

Lame duck and the next Congress

Participants quoted by The Block expect little near-term movement on the Clarity Act. Andrew Cuomo, an OKX board director, said he does not expect anything in the lame-duck Congress. Alsobrooks said passage there is possible but unlikely, and called passage in the next Congress "not realistic." Asked whether a Democratic Congress would prioritize the bill, she said "Absolutely not." Warren said a bill is achievable but would require Republicans to stand up to Donald Trump.

What this means for infrastructure firms

This section is the desk's judgment, not a sourced fact. If the Oct. 28 odds hold, stablecoin issuers, custodians and payment firms are more likely to face hearings and information requests than new statute in 2027. Hammond predicted Warren would be aggressive, and Fairshake PAC has committed $30 million to Jon Husted against Sherrod Brown, per The Block. The Blockchain Association's Lindsay Fraser said the need for clear rules persists. Watch committee chair selections and any lame-duck floor scheduling.

Is the Clarity Act likely to pass before the new Congress?: Unlikely, according to figures quoted by The Block on Oct. 28, 2026. Andrew Cuomo, an OKX board director, said he does not expect anything in the lame-duck Congress. Sen. Angela Alsobrooks said passage there is possible but unlikely, and that Republican leadership was done negotiating.
Who could chair the key committees if Democrats win?: The Block reports Elizabeth Warren would chair Senate Banking if Democrats take the Senate. Wintermute's Ron Hammond said Sherrod Brown could chair Senate Agriculture if he wins his race. Maxine Waters is expected to resume leading House Financial Services but faces challenges from Reps. Sean Casten and Bill Foster.
What does the industry say about the shift?: Lindsay Fraser, Chief Policy Officer of the Blockchain Association, told The Block that control of Congress may change but the need for clear crypto rules will not. Sen. Warren said a crypto bill is achievable but would require Republicans to stand up to Donald Trump.

Crypto braces for potential shift in congressional oversight after midterms — The Block
H.R.3633 - Digital Asset Market Clarity Act of 2025 (bill record) — Congress.gov, Library of Congress

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