Crypto PAC Endorses 18 More Candidates for November Elections

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As an analyst with extensive experience in the cryptocurrency industry, I believe that the latest endorsements by the Stand With Crypto PAC of 18 new candidates for the November elections is a positive step towards ensuring that the use and support of cryptocurrency and blockchain technology continue to thrive in the United States.

The Stand With Crypto Political Action Committee (PAC) has announced its support for 18 additional candidates in the upcoming November elections. Out of this group, 15 are current office holders, resulting in an almost even distribution of endorsements between Democratic and Republican candidates.

The Political Action Committee (PAC) serves to bolster backers in the political arena, ensuring the continued advocacy for cryptocurrencies and blockchain technology within the US.

Latest Endorsements from Stand With Crypto PAC

Representatives of the Stand With Crypto Political Action Committee (PAC) bear new names such as senators Kirsten Gillibrand of New York and Rick Scott of Florida, congressmen Dan Goldman of New York, and Young Kim of California. The PAC has also endorsed Blake Masters in Arizona for the House of Representatives and Sarah McBride in Delaware under similar capacities.

The PAC has determined that these candidates hold a substantial fondness and dedication towards broadening the adoption of cryptocurrencies and blockchain tech in the United States.

As an analyst, I would rephrase it as follows: The outcome of the last Presidential election hinged on a small number of votes in a select group of states. Are you prepared for your preferred candidate to go up against the voting power of nearly 52 million Americans who currently hold digital assets, and over one million more who have expressed their intention to do so?

— paulgrewal.eth (@iampaulgrewal) June 17, 2024

As a crypto investor, I’ve been keeping a close eye on Paul Grewal’s recent tweet. He, being the Chief Legal Officer of Coinbase, emphasized the potential impact of the ongoing election on the crypto industry. According to him, a few votes in crucial states could sway the outcome of the election. Moreover, he brought attention to the fact that an expansive American population is deeply involved with digital assets. Consequently, candidates’ stances towards cryptocurrencies might significantly influence voters’ decisions during this critical time.

Growing Influence of Crypto Voters

Approximately 52 million Americans, according to Stand With Crypto PAC’s latest findings, currently hold some type of digital currency. Among this group, an impressive 87% expressed a desire to overhaul the existing financial system. Furthermore, it was noted that nearly half (45%) of those surveyed would not support candidates who are against cryptocurrencies.

The House of Representatives’ recent approval of the “Financial Innovation and Technology for the 21st Century Act,” or FIT21, signifies growing agreement between political parties on cryptocurrency-related matters.

As a researcher examining legislative developments regarding cryptocurrencies and digital assets in the United States, I’ve come across an intriguing piece of news. The proposed bill, designed to establish a regulatory framework for these emerging technologies, gained substantial approval with a commendable 278-136 vote count in Congress. Notably, this legislation was primarily sponsored by Republican legislators; however, it also garnered robust support from a significant contingent of Democratic representatives.

Challenges and Strategic Shifts in the Senate

As a crypto investor, I’m keeping a close eye on the progress of the FIT21 bill in Congress. While it’s encouraging that the House has passed it, I’m aware that we’re not out of the woods yet. The Senate, which is currently controlled by the Democrats, poses a significant challenge. There are influential critics of cryptocurrency among their ranks, like Senator Elizabeth Warren, who could potentially derail the bill. However, the crypto community isn’t giving up without a fight. We’re pushing hard to make sure that this legislation sees the light of day and is passed to keep the momentum going for our industry.

Next month, Congressman Ro Khanna is planning to convene a discussion in Washington, D.C., attended by representatives from the Biden Administration, Congress, and the crypto industry. The purpose of this gathering is to explore ways the U.S. can encourage further advancements in blockchain technology.

Furthermore, the recent engagement of Donald Trump, the former US President, in the cryptocurrency realm has significantly drawn attention to this topic. Trump has taken steps such as accepting Bitcoin Lightning payments for campaign contributions and pledging to reverse what he terms “Joe Biden’s crypto crackdown.” Additionally, Trump has extended support to the Bitcoin market by hosting a roundtable meeting with significant US Bitcoin miners at Mar-a-Lago.

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2024-06-17 20:18