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Jeff Hurd and Scott Perry, both in favor of FIT21, won close elections against their Democratic rivals for House seats in Colorado and Pennsylvania.
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Two Republicans running for seats in the United States House of Representatives have defeated their Democratic challengers in the 2024 election, narrowing the gap for the party to keep a majority in the chamber.
The Associated Press (AP) reported on Nov. 7 that Republican Jeff Hurd had been declared the winner of his House race in Colorado’s 3rd congressional district with 50.1% of the vote and 89% reporting. Republican Scott Perry also won reelection in Pennsylvania’s 10th congressional district against Democrat Janelle Stelson.
While in office, Perry voted for The Financial Innovation and Technology for the 21st Century Act, or FIT21 bill, which received bipartisan support from lawmakers in the House and awaits a vote in the US Senate. According to Hurd’s campaign website, the Republican intended to support “legislation like the FIT21 bill” and favored “sensible regulations for advancing technologies like cryptocurrency.”
Source: Facebook
Hurd and Perry were included in a list of “strongly supportive” candidates endorsed by the political initiative Stand With Crypto, but Cointelegraph did not find any political action committees (PACs) supporting them through media buys. During the 2024 election cycle, crypto-backed PACs like Fairshake poured hundreds of millions of dollars into support for congressional candidates with views favorable to the industry.
The future of crypto policy and regulation after US Election
The two House wins were some of the latest results of the 2024 elections in which Republicans took control of the White House and Senate. At the time of publication, the AP had called 210 seats for Republicans and 194 for Democrats. A party needs 218 seats for majority control.
Related: US Election: House races still uncertain after Trump win
Though a Democratic or Republican majority in the House had not been called at the time of publication, Stand With Crypto declared on Nov. 5 that the next Congress “will be the most pro-crypto ever,” with lawmakers favoring crypto policies in the House and Senate staunchly outnumbering “anti-crypto” candidates who won in 2024. Sherrod Brown, one of the most vocal crypto skeptics in Congress, will leave the Senate in 2025 after losing to Republican Bernie Moreno.
Some of the biggest targets of the industry could remain. Elizabeth Warren won reelection for the US Senate in Massachusetts against challenger John Deaton, a lawyer who has advocated for XRP holders. Securities and Exchange Commission Chair Gary Gensler’s term officially ends in June 2026, but President-elect Donald Trump has vowed to fire the regulator “on day one” in office.
Magazine: Crypto voters are already disrupting the 2024 election — and it’s set to continue
This article first appeared at Cointelegraph.com News
