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Five Critical Midterm Results for Crypto’s Future

Posted November 09, 2022

Matt Insley

By Matt Insley

Five Critical Midterm Results for Crypto’s Future

A few weeks back we shared an article of five key midterm races that will impact crypto.

With the election results in - and in some cases counted - let’s assess the damage and find out what it means for you, and the future of crypto.

Race 1: Minnesota’s 6th Congressional District

Tom Emmer (R) vs Jeanne Hendricks (D)

Republican Tom Emmer has been an outspoken and active ally for crypto, defending crypto against overreach by the SEC and Treasury Department’s sanctions and regulation.

Result: Republican and crypto advocate Tom Emmer (62.1%) defeats Democrat Jeanne Hendricks (37.9%) (99% reported)

Race 2: Oregon Senate

Ron Wyden (D) vs. Jo Rae Perkins (R)

Illustrating how crypto is one of the few bi-partisan issues in politics today, Democrat Ron Wyden has been on the forefront of the fight for internet freedom for decades, authoring the Internet Tax Freedom Act and adding a crypto-friendly amendment to the 2021 Infrastructure Bill.

Result: Democrat and crypto advocate Ron Wyden (55.2%) defeats Republican Jo Rae Perkins

Race 3: Ohio Senate

Tim Ryan (D) vs JD Vance (R)

One of the higher profile and contested races is also one that has the most effect on the future of crypto. Tim Ryan introduced the Keep Innovation in America Act along with Rep. Patrick McHenry (R-NC), which aimed to give crypto leeway to develop as a technology, and claimed that crypto presented “some of the most important innovations to come along in a generation”.

Author JD Vance is certainly not anti-crypto, as it was disclosed last November that he owned between $100,000 and $250,000 in Bitcoin.

Result: Republican JD Vance (53.3%) defeats Democrat Tim Ryan (46.7%)

Race 4: Ohio’s eighth congressional district

Warren Davidson (R) vs. Vanessa Enoch (D)

Davidson was dubbed “The Crypto Congressman” by Bitcoin Magazine for being a frequent advocate of cryptocurrencies on both Twitter and Capitol Hill since 2016. He introduced the Keep Your Coins Act, which would prohibit federal agencies from infringing on self-custody.

Result: Republican and crypto advocate Warren Davidson (64.9%) defeats Democrat Vanessa Enoch (35.1%) (97% reported)

Race 5: California’s 32nd congressional district

Brad Sherman (D) vs. Lucie Volotzky (R)

In this race we see an adversary to crypto in longtime Congressman Brad Sherman.

Sherman has called for the universal banning of cryptocurrencies and spawned several Meme Coins from his rant involving the (at the time) fictional CobraCoin and MongooseCoin.

Result: Democrat and crypto opposer Brad Sherman defeats Republican Lucie Volotzky

We may not have a blue and red election map to represent the balance of power in the battle for (or against) crypto regulation, but these results will certainly be critical in the years to come.

Carpe Crypto,

Matt Insley
Publisher, {{pub_name}}

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