The Republican Party secured the U.S. House of Representatives in the 2024 election, alongside Donald Trump's reelection and regained Senate control, achieving a trifecta. Republicans clinched at least 218 seats, with the potential to hold up to 222, despite impending resignations of some lawmakers due to appointments in Trump's executive branch. The Fairshake super PAC backed numerous successful House and Senate candidates. Retiring Rep. Patrick McHenry, who led the Financial Services Committee, pushed for significant crypto legislation. These included the Financial Innovation and Technology for the 21st Century Act (FIT21) and a resolution to overturn the SEC's Staff Accounting Bulletin 121, which ultimately faced a presidential veto. The future of a stablecoin bill, worked on by Maxine Waters and McHenry, remains uncertain for the upcoming legislative session. Republicans are now poised to shape upcoming crypto regulations in Congress.

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