Stand With Crypto PAC Surpasses 1 Million Advocates for Crypto Regulation

TLDR

• Stand with Crypto Alliance PAC, launched by Coinbase in 2023, has gained over 1 million supporters
• The PAC is focused on passing 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 United States.
• The crypto industry has become an important political issue, with community and industry pressure influencing the 2024 presidential election.
• Former President Trump recently expressed support for the growth of the crypto industry, marking a shift from his previous stance.
• Stand with Crypto targeted voters in swing states, with nearly 24,000 members in Georgia and more than 16,000 in Arizona.

The stand with crypto The Alliance’s Political Action Committee (PAC), launched by Coinbase in 2023, recently announced that more than 1 million Americans have signed up as advocates to make their voices heard in Washington, DC.

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

The rapid growth of the Stand with Crypto PAC highlights the growing importance of cryptocurrency and blockchain technology in the political landscape. The organization has raised millions in donations and aims to mobilize American crypto enthusiasts toward pro-technology policy outcomes.

One of the main goals 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 the House of Representatives with bipartisan support.

However, it has yet to pass the Democratic-controlled Senate, where some of crypto’s most vocal critics sit.

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

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

This change in attitude contrasts with Trump’s previous stances against Bitcoin and cryptocurrencies, potentially reflecting a broader reversal in the government’s attitude toward digital assets in the United States.

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

The organization’s chief strategist, Nick Carr, said the one million advocates from every state and political line send a clear message to Washington that crypto is a front-line issue.

Coinbase CEO Brian Armstrong, a major donor to the group, expressed satisfaction with Stand with Crypto’s rapid growth, noting that with the general election five months away, crypto voters are not slowing down their efforts.

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