Crypto PAC Endorses 18 More Candidates for November Elections

Stand With Crypto PAC Endorses 18 Candidates to Promote Crypto Innovation in Upcoming U.S. Elections. On June 17, 2024, the Stand With Crypto PAC announced its endorsement of 18 candidates for the upcoming November elections. This group includes 15 incumbents and aims to create a balanced support base, nearly equally divided between Democrats and Republicans. The PAC’s mission is to ensure the continued support and development of cryptocurrency and blockchain technologies in the United States.

Latest Endorsements from Stand With Crypto PAC

The new endorsements include notable figures such as Senator Kirsten Gillibrand of New York, Senator Rick Scott of Florida, Representative Dan Goldman of New York, and Representative Young Kim of California. Other endorsed candidates include Blake Masters for the House seat in Arizona and Sarah McBride for a House seat in Delaware. These candidates have been recognized for their strong commitment to expanding the use of cryptocurrency and blockchain technology in the U.S.

Significance of the Crypto Vote

Paul Grewal, Chief Legal Officer of Coinbase, recently tweeted about the importance of the crypto vote, emphasizing that the upcoming election could be influenced by a few key votes in critical states. He highlighted that a significant portion of Americans are engaged in digital assets and that political positions on crypto could impact voter decisions.

Growing Influence of Crypto Voters

The Stand With Crypto PAC revealed that over 52 million Americans own some form of digital currency. Among these, 87% want to replace the current financial system as it stands, and 45% of those surveyed would not vote for an anti-crypto candidate. This growing voter base is pushing for changes in the financial landscape through their political choices.

Legislative Progress: FIT21 Act

The recent approval of the “Financial Innovation and Technology for the 21st Century Act” (FIT21) by the House of Representatives is a testament to the increasing bipartisan support for cryptocurrency issues. The bill, which aims to provide a legal framework for cryptocurrencies and digital assets in the U.S., passed with a comfortable margin of 278-136 votes. Although sponsored by Republican lawmakers, it also garnered significant support from Democrats.

Challenges and Strategic Shifts in the Senate

Despite its success in the House, the FIT21 bill faces hurdles in the Democrat-controlled Senate, where influential critics of cryptocurrency, such as Senator Elizabeth Warren, pose a challenge. The crypto community is actively working to ensure the bill’s passage to maintain the current momentum.

Upcoming Roundtable Conference

To further this cause, Congressman Ro Khanna is scheduled to hold a roundtable conference in Washington, D.C., next month. This event will bring together the Biden Administration, Congress, and the crypto industry to discuss strategies for fostering innovation in blockchain technology in the U.S.

Former President Trump’s Involvement

The involvement of former President Donald Trump in the crypto space has also brought significant attention to the issue. Trump has accepted Bitcoin Lightning payments for campaign contributions and has vowed to reverse what he calls “Joe Biden’s war on crypto.” His support includes inviting key U.S. Bitcoin miners to a roundtable meeting at Mar-a-Lago, signaling strong backing for the Bitcoin market.

Conclusion

The Stand With Crypto PAC’s endorsements highlight the increasing importance of cryptocurrency in U.S. politics. By supporting candidates committed to crypto innovation, the PAC aims to influence the future regulatory landscape and ensure that the U.S. remains at the forefront of blockchain technology development. With the upcoming elections and ongoing legislative efforts, the crypto community is poised to make significant strides in shaping the financial system of the future.

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