PANews reported on November 6 that according to The Block, in the Ohio U.S. Senate election, Republican candidate and cryptocurrency supporter Bernie Moreno defeated incumbent Democratic Senator Sherrod Brown with 50.6% to 46% of the votes. Brown has served as a senator since 2007 and served as chairman of the Senate Banking Committee. He has always been critical of cryptocurrencies and called for stricter regulation of cryptocurrency funding of terrorism and circumvention of sanctions.

Moreno said he would defend innovation in cryptocurrencies in the Senate and criticized politicians such as Brown and Biden for not understanding encryption technology. If the Republicans control the Senate, Senator Tim Scott may take over as chairman of the Banking Committee. He has said he plans to establish a regulatory framework for the digital asset industry and supports the establishment of a subcommittee focused on the encryption field.