Republicans Secure Key House Wins In 2024 Elections

According to Cointelegraph, two Republican candidates have successfully secured seats in the United States House of Representatives, narrowing the gap for the party to maintain a majority in the chamber. The Associated Press reported on November 7 that Jeff Hurd emerged victorious in Colorado’s 3rd congressional district with 50.1% of the vote, with 89% of the votes counted. Similarly, Scott Perry retained his seat in Pennsylvania’s 10th congressional district, defeating Democrat Janelle Stelson. While serving in office, Perry supported the Financial Innovation and Technology for the 21st Century Act, also known as the FIT21 bill, which garnered bipartisan backing in the House and is pending a Senate vote. Hurd, according to his campaign website, expressed intentions to support similar legislation and advocated for sensible regulations to advance technologies like cryptocurrency. Both Hurd and Perry were recognized as "strongly supportive" candidates by the Stand With Crypto initiative, although Cointelegraph noted the absence of political action committees (PACs) backing them through media purchases. During the 2024 election cycle, crypto-backed PACs, such as Fairshake, invested significantly in supporting congressional candidates with favorable views towards the industry. The recent victories are part of the broader 2024 election results, where Republicans have gained control of the White House and Senate. At the time of reporting, the AP had declared 210 seats for Republicans and 194 for Democrats in the House, with 218 seats needed for a majority. Although the final majority in the House was not determined at the time, Stand With Crypto announced on November 5 that the upcoming Congress would be the most pro-crypto yet, with lawmakers supporting crypto policies significantly outnumbering those opposed. In related developments, Sherrod Brown, a prominent crypto skeptic in Congress, is set to leave the Senate in 2025 after losing to Republican Bernie Moreno. Meanwhile, Elizabeth Warren secured reelection in the US Senate in Massachusetts, defeating challenger John Deaton, an advocate for XRP holders. Additionally, Securities and Exchange Commission Chair Gary Gensler’s term is scheduled to end in June 2026, but President-elect Donald Trump has pledged to remove the regulator "on day one" of his presidency.