Reuters: Democratic win could bring broader U.S. probes into crypto industry

If U.S. Democrats secure a congressional majority in the midterm elections, congressional investigations into cryptocurrency firms and prediction markets could intensify, Reuters reported. Even if Democrats take the Senate or House, it would be difficult to directly halt President Donald Trump’s financial deregulation policies, but their authority to investigate regulators and related companies would expand significantly, giving them broad power to scrutinize the industry and supervisory agencies. Kevin Edgar, a partner at BakerHostetler and former chief counsel to the U.S. House Financial Services Committee, said everything that occurred during the first two years of the Trump administration could become subject to investigation.