Home Editor's Pick Stand With Crypto PAC Surpasses 1 Million Advocates in Push for Crypto Regulation

Stand With Crypto PAC Surpasses 1 Million Advocates in Push for Crypto Regulation

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TLDR

Stand with Crypto Alliance PAC, launched by Coinbase in 2023, has gained over 1 million advocates
The PAC focuses on the passage of the “Financial Innovation and Technology for the 21st Century Act” (FIT21), which aims to develop a regulatory framework for cryptocurrencies and digital assets in the U.S.
The crypto industry has become a significant political issue, with pressure from the community and industry influencing the 2024 presidential election
Former President Trump has recently expressed support for the growth of the crypto industry, marking a shift in his previous stance
Stand with Crypto has targeted voters in swing states, with nearly 24,000 members in Georgia and over 16,000 in Arizona

The Stand with Crypto Alliance political action committee (PAC), launched by Coinbase in 2023, has recently announced that over 1 million Americans have signed on as advocates to make their voices heard in Washington, D.C.

The pro-crypto PAC claims that 52 million Americans hold some form of cryptocurrency, and 87% of those surveyed believe the current financial system needs an overhaul.

The rapid growth of the Stand with Crypto PAC highlights the increasing importance of cryptocurrency and blockchain technology in the political landscape. The organization has gathered millions in donations and aims to mobilize U.S. crypto enthusiasts toward political outcomes that favor the technology.

ONE MILLION STAND WITH CRYPTO

Today, we are proud to share that the Stand With Crypto movement has reached 1M sign-ups! This is an achievement for all of us to celebrate, and it was made possible by every single advocate who raised their voice to engage in the political process.… pic.twitter.com/GXoxKMTmpB

— Stand With Crypto????️ (@standwithcrypto) June 5, 2024

A core focus of the Stand with Crypto PAC is the passage of the “Financial Innovation and Technology for the 21st Century Act” (FIT21).

This bill, which would initiate the development of a robust regulatory framework for cryptocurrencies and digital assets in the United States, has already passed in the House of Representatives with bipartisan support.

However, it still needs to pass in the Democrat-controlled Senate, where some of crypto’s most vocal critics hold seats.

The cryptocurrency industry’s influence on politics has grown significantly, with the 2024 presidential election and beyond being shaped by the issue.

Former President Trump’s recent support for cryptocurrencies and blockchain innovation in America shows that the topic has evolved from a niche interest to one of national attention.

This shift in attitude is in contrast to Trump’s previous positions against Bitcoin and cryptocurrencies, potentially reflecting a broader reversal of government attitudes toward digital assets in the United States.

Stand with Crypto has targeted voters in swing states, with nearly 24,000 members in Georgia and over 16,000 in Arizona.

The organization’s chief strategist, Nick Carr, stated that the one million advocates from across state and political lines are sending a clear message to Washington, emphasizing that crypto is a frontline issue.

Coinbase CEO Brian Armstrong, one of the group’s leading donors, expressed his satisfaction with the rapid growth of Stand with Crypto, noting that with five months until the general election, crypto voters are not slowing down their efforts.

The post Stand With Crypto PAC Surpasses 1 Million Advocates in Push for Crypto Regulation appeared first on Blockonomi.

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