[Galaxy Research Head: Democratic Victory Shifts Crypto Policy Landscape, Key Legislation Expected to Make Little Progress] According to Jinse Finance, on November 7th, Alex Thorn, Research Head at Galaxy, stated that despite the Democrats' victory in both houses of Congress, significant progress on key digital asset legislation is unlikely. Leadership of congressional committees will also change. Warren is likely to become chair of the Senate Banking Committee, and Maxine Waters is expected to regain control of the House Financial Services Committee. While several Republican senators supporting the crypto industry lost their seats, the pro-crypto camp did not suffer a complete defeat. Stand With Crypto statistics show that 19 pro-crypto senators and 226 pro-crypto representatives have been elected. Molly White's tracking shows that in 12 closely contested elections, the crypto and AI political action committees lost 9, but won all 40 safer elections. Reports indicate that House Democrats are discussing expanding Waters' previously proposed Crypto Investor Consumer Rights Act into a broader crypto market structure bill. However, he reiterated that he does not expect Congress to make substantial progress on key digital asset legislation. In the absence of legislation, the SEC, CFTC, and banking regulators have already defined encryption rules within their existing legal authority, and the Trump administration still has two years to continue its work on this matter.