Protocols & Policy · Crypto policy
AP projects Democrats win Congress as crypto bills sit unfinished
The Associated Press projects Democrats won the House and Senate; results are not certified. The House-passed bill to set federal rules for crypto markets, a bill to bar a Fed-issued digital dollar and a bill shielding software developers remain pending, according to congress.gov.
AP projects Democrats win Congress as crypto bills sit unfinished
Democrats are projected to win control of both the House and the Senate, according to The Associated Press, which ran the headline "Democrats win the US House and Senate as voters deliver a strong rebuke to Trump and Republicans" [1]. These are AP projections, not certified results. The majority party in each chamber chairs its committees, which decide which bills move.
In the House, AP has called, or declared a winner in, 222 races for Democrats and 138 for Republicans, with 75 uncalled, according to Le Coin's count of Associated Press race calls as of 10:50 a.m. ET; no race is certified [2]. AP's House results page notes that going into the election, 219 members caucused with Republicans, meaning they sat in the party's group, "just one more than the minimum required for a majority when all seats are filled," which puts that minimum at 218 [3]. By Le Coin's comparison, the 222 races AP has called for Democrats exceed that minimum [2]. In the Senate, AP has called 20 of this year's races for Democrats and 13 for Republicans, with 2 uncalled, by the same count [2].
| Chamber | Races | Democrats | Republicans | Uncalled |
|---|---|---|---|---|
| House | 435 | 222 | 138 | 75 |
| Senate | 35 | 20 | 13 | 2 |
Table: Le Coin. Source: Le Coin's count of Associated Press race calls as of 10:50 a.m. ET; no race is certified.
The bills that would set federal crypto rules were still pending when polls closed, according to congress.gov. The largest, the Digital Asset Market Clarity Act (H.R.3633), passed the House 294–134 on July 17, 2025 [4]. As introduced, it would have the Commodity Futures Trading Commission "generally regulate digital commodities transactions," according to the Congressional Research Service summary, which covers only that version [4]. The Senate Banking Committee reported it with substitute text on June 1, 2026 [4]. On Sept. 15, 2026, a motion to begin debate fell short of cloture, the 60-vote bar to end debate, 49–50, and Senator Thom Tillis entered a motion to reconsider, which allows the vote to be held again, the latest action listed [4].
| Bill | Number | Latest action | Date | Committee(s) |
|---|---|---|---|---|
| Digital Asset Market Clarity Act | H.R.3633 | Senate vote to begin debate failed, 49–50; Sen. Tillis entered a motion to reconsider | Sept. 15, 2026 | House Financial Services; House Agriculture; Senate Banking |
| Anti-CBDC Surveillance State Act | H.R.1919 | Passed House 219–210 | July 17, 2025 | House Financial Services |
| Blockchain Regulatory Certainty Act | H.R.3533 | Referred to House Financial Services | May 21, 2025 | House Financial Services |
| Blockchain Regulatory Certainty Act of 2026 | S.3611 | Read twice and referred to Senate Banking | Jan. 12, 2026 | Senate Banking, Housing, and Urban Affairs |
Table: Le Coin. Source: congress.gov.
The Anti-CBDC Surveillance State Act (H.R.1919), which as introduced would bar a Federal Reserve bank from issuing "a central bank digital currency (i.e., a digital dollar)," according to the Congressional Research Service summary, passed the House 219–210 on July 17, 2025; congress.gov lists no Senate action [5]. The Blockchain Regulatory Certainty Act, which the House bill's text says would provide "a safe harbor from licensing and registration for certain non-controlling blockchain developers," sits in committee in both chambers as H.R.3533 and S.3611 [6][7]. The stablecoin law, the GENIUS Act, is already law: S.1582 "Became Public Law No: 119-27" on July 18, 2025 [8].
The objection
The counts above are a snapshot of AP's race calls at 10:50 a.m. ET, with dozens of House races uncalled, and AP's calls are not certified results. The research service summaries describe the bills as introduced, not as later amended.
The tell (Le Coin's view)
In Le Coin's view, the projected result changes who would run the committees, not where the bills stand today. The Clarity Act has passed the House and cleared Senate Banking, and its last recorded step is a pending motion to reconsider a failed procedural vote.
Sources
- The Associated Press, "Democrats win the US House and Senate as voters deliver a strong rebuke to Trump and Republicans," updated 2:57 a.m. ET Nov. 4. https://apnews.com/article/midterm-election-house-senate-democrats-republicans-trump-f126e12e05b579a327b98481c0ae2226 (read about 10:46 a.m. ET, Nov. 4, 2026)
- The Associated Press, election results data, national metadata and progress files (accessed 10:50 a.m. ET, Nov. 4, 2026)
- The Associated Press, 2026 U.S. House results. https://apnews.com/projects/elections-2026/us-house-results/ (accessed 10:50 a.m. ET, Nov. 4, 2026)
- Congress.gov, H.R.3633, Digital Asset Market Clarity Act. https://www.congress.gov/bill/119th-congress/house-bill/3633 (accessed 10:44 a.m. ET, Nov. 4, 2026)
- Congress.gov, H.R.1919, Anti-CBDC Surveillance State Act. https://www.congress.gov/bill/119th-congress/house-bill/1919 (accessed 10:44 a.m. ET, Nov. 4, 2026)
- Congress.gov, H.R.3533, Blockchain Regulatory Certainty Act, and introduced text. https://www.congress.gov/bill/119th-congress/house-bill/3533 (accessed 10:45 a.m. ET, Nov. 4, 2026)
- Congress.gov, S.3611, Blockchain Regulatory Certainty Act of 2026. https://www.congress.gov/bill/119th-congress/senate-bill/3611 (accessed 10:45 a.m. ET, Nov. 4, 2026)
- Congress.gov, S.1582, GENIUS Act. https://www.congress.gov/bill/119th-congress/senate-bill/1582 (accessed 10:53 a.m. ET, Nov. 4, 2026)
Holding the Corner.
Not financial advice.