Crypto dream may unravel with Democrats set to tighten rules and scrutiny in Congress

Crypto’s extraordinary run of political good fortune in Washington has come to an abrupt halt. With Democrats set to control Congress following their midterm sweep, the industry faces the prospect of tougher rules and closer scrutiny of its ties to President Donald Trump, according to a Bloomberg report.

For two years, the industry enjoyed something few businesses ever get in the nation’s capital — a president who made digital assets a national priority while amassing his own crypto fortune, regulators clearing a path for wider adoption, and a Republican Congress sympathetic to its agenda.