A cryptocurrency nonprofit has launched a new political action committee (PAC) to raise money from its 440,000 members for crypto-friendly politicians, and is endorsing a bipartisan slate of candidates running in the House of Representatives and the Senate.
Stand With Crypto’s PAC joins a deep-pocketed effort from the cryptocurrency industry to put political candidates in office who are committed to supporting crypto and blockchain.
Crypto super PACs Fairshake, Defend American Jobs and Protect Progress have so far raised more than $110 million this election cycle, according to Federal Election Commission records.
“The goal is to endorse candidates and support candidates that are protecting the rights of our advocates of Stand With Crypto throughout November,” Nick Carr, chief strategist at Stand With Crypto.
The emergence of this crypto PAC signals a new era of political engagement, where digital currency enthusiasts are organizing to amplify their voices and advance their interests in legislative matters.
The launch of this crypto PAC reflects the growing recognition of the cryptocurrency industry’s role in elections. As the digital asset space expands, stakeholders are more aware of the importance of engaging with policymakers. By establishing a dedicated PAC, the crypto community aims to advocate for policies conducive to digital currencies, influencing electoral outcomes.
Additionally, the launch of this crypto PAC reflects the growing recognition of the cryptocurrency industry as a legitimate player in the political arena.
Additionally, through the establishment of a dedicated PAC, the crypto community actively participates in the democratic process. Moreover, they advocate for policies fostering digital currency growth and adoption.
Therefore, they aim to inform lawmakers about blockchain and cryptocurrencies’ potential benefits, paving the way for better regulations.
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