Crypto’s Emerging Momentum: Early Signs of Life

With the 2026 midterm elections approaching on November 3 — just under four months away — legislators will soon confront their constituents and party bases after returning from summer recess and entering the final campaign phase.

Consequently, former President Donald Trump and the $1.4 billion he earned from crypto could heavily influence the legislative floor vote. Specifically, the absence of an ethics clause would likely hinder Democratic support in the Senate; without a placeholder addressing ethics in next week’s draft, securing bipartisan approval could become counterproductive, according to one source.

Trump therefore still must approve an ethics agreement. Recent interviews with CoinDesk indicate that White House involvement has waned compared to earlier in the summer; however, another source noted in early July that progress may depend on resolving other outstanding issues first.

A positive development for supporters: If the President does not veto the housing bill before midnight Saturday, a provision will take effect that prohibits the Federal Reserve from issuing a central bank digital currency for at least four years. Industry observers had feared that House members might attempt to insert a CBDC ban into the Clarity bill if the Senate moved forward, potentially complicating negotiations. That hurdle now appears avoided at least through 2030, thanks to the housing bill’s provisions.

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