As the US midterm elections unfold, crypto regulators and lawmakers remain locked in the same tension: agencies are increasingly shaping day-to-day compliance, while legislation that could provide long-term certainty—most notably the stalled CLARITY Act—still cannot break through. Speaking in the context of the election’s potential to shift Congress, Maylea Ma, deputy general counsel at 1inch, said the most meaningful regulatory momentum in the next few years is likely to come from federal agencies rather than Congress.