Link: The crypto bill is falling apart in Congress

Hello and welcome to Regulator, the Verge newsletter focusing on the intertwining of technology and politics. I hope our readers affected by the snowstorm are safe and well.

Last week's discussions in Washington D.C. revealed a mounting concern among insiders about the crypto industry’s urgent need for favorable legislation before the midterms. As elections approach, Congress's focus will likely shift from policymaking to campaigning, complicating legislative prospects.

Historical trends suggest a power shift in the upcoming midterms, with the incumbent president’s party typically losing seats. This scenario increases the stakes for the crypto sector, relying on current congressional allies.

The urgency is compounded by recent political turmoil, including public outrage over an ICE agent's fatal shooting of an ICU nurse in Minneapolis, which has diverted attention from policy to crisis management.

In response to the shooting, discussions about federal funding for ICE have intensified, possibly leading to a government shutdown. This shift further sidelines crypto legislation discussions.

With partisanship deepening and legislative windows narrowing, the crypto industry faces significant challenges in securing favorable legislation amidst these tumultuous political dynamics. #

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Yoooo, this is a quick note on a link that made me go, WTF? Find all past links here.