The Stand with Crypto Alliance, a political action committee (PAC) established by Coinbase in 2023, made an exciting announcement recently. They revealed that more than 1 million Americans have joined as advocates to ensure their voices are heard in Washington, D.C.
The pro-crypto PAC shared that 52 million Americans are involved in some form of cryptocurrency, with a staggering 87% of those surveyed believing that the current financial system is in need of a complete overhaul. Stand with Crypto also highlighted that 45% of respondents stated they would not support a candidate who is against cryptocurrency.
In other news, the US House of Representatives has approved the FIT21 crypto bill with bipartisan support. This bill, known as the “Financial Innovation and Technology for the 21st Century Act,” is a key focus for the Stand with Crypto PAC. It aims to establish a solid regulatory framework for cryptocurrencies and digital assets in the United States. The bill passed in the House with a 278-136 vote, receiving more support from Republican lawmakers, with 200 voting in favor compared to 70 Democrats.
Despite this bipartisan support in the House, the bill still needs to pass in the Democrat-controlled Senate. Some of crypto’s biggest critics, such as Elizabeth Warren, hold seats in the Senate, posing a potential challenge.
The pressure from the crypto community and the blockchain industry has propelled cryptocurrency to the forefront of political discussions, with significant implications for the upcoming 2024 presidential election and beyond. Even former President Trump has shown support for cryptocurrencies and blockchain innovation in America, emphasizing the need for the country to embrace innovation to stay ahead in the future of money and finance.
Trump’s recent comments mark a stark contrast to his previous stance against Bitcoin (BTC) and cryptocurrencies, indicating a possible shift in the government’s attitude towards digital assets in the United States. In response to this support, opponent Joe Biden’s campaign has reportedly reached out to industry players for input on the administration’s future crypto policy.
In other news, a magazine feature highlights Gordon Goner’s health battles and the 3rd anniversary of Bored Apes.