Stand With Crypto PAC supports 18 candidates, regardless of their political affiliation to promote crypto innovation in the upcoming Nov U.S. elections.
The Stand With Crypto PAC has endorsed 18 additional candidates for the November elections. The votes are almost evenly divided between the Democrats and the Republicans, as this list of endorsements includes 15 incumbents.
The PAC’s objective is to fortify the political supporters of the industry as it strives to ensure that blockchain and cryptocurrency technologies continue to be supported in the United States.
The most recent endorsements from Stand With Crypto PAC
Senators Rick Scott of Florida and Kirsten Gillibrand of New York, as well as representatives Dan Goldman of New York and Young Kim of California, have been appointed as new Stand With Crypto PAC ambassadors. The PAC has also endorsed Blake Masters in Arizona for the House seat and Sarah McBride in Delaware for the same position.
The PAC has designated these candidates as possessing a solid appreciation and dedication to expanding the use of blockchain technology and cryptocurrency in the United States.
Paul Grewal, the Chief Legal Officer of Coinbase, recently emphasized the importance of the crypto vote in a tweet, asserting that the election could be influenced by a handful of ballots in critical states. He observed that many Americans are involved in digital assets and suggested that electors’ political stances on crypto may influence their decisions.
Increasing Influence of Crypto Voters
Stand Crypto PAC disclosed that over 52 million individuals in the United States possess digital currencies, and 87% of them desire to supplant the current financial system in its current state. The PAC has also noted that 45% of the respondents would not vote for the anti-crypto candidate.
The House of Representatives’ recent approval of the “Financial Innovation and Technology for the 21st Century Act,” also known as the FIT21, indicates the growing prevalence of bipartisanship in cryptocurrency.
The bill, which aims to establish a legal framework for digital assets and cryptocurrencies in the United States, was approved by a margin of 278-136 ballots. Even though Republican legislators sponsored it, many Democrats also endorsed it.
Strategic Changes and Obstacles in the Senate
The FIT21 measure is confronted with obstacles in the Democrat-controlled Senate, where some cryptocurrency critics, including Senator Elizabeth Warren, wield significant influence despite its success in the House. The crypto community has yet to back down and is working to ensure the measure is passed to sustain the momentum.
Congressman Ro Khanna is scheduled to conduct a roundtable conference in Washington, D.C., next month to achieve this objective. This event will entail the Biden Administration, Congress, and the crypto industry to develop strategies for the United States to continue promoting blockchain technology innovation.
In addition, the recent involvement of the former President of the United States, Donald Trump, in the crypto space has also contributed to the awareness of this issue. Trump has pledged to reverse what he called “Joe Biden’s war on crypto” and has accepted Bitcoin Lightning payments for campaign contributions. He has also invited prominent U.S. Bitcoin miners to participate in a roundtable meeting at Mar-a-Lago to demonstrate his support for the Bitcoin market.
