Crypto and the US Elections: Political Action Committee Seeks Pro-Crypto Candidates

2023 US Elections: A Pivotal Moment for Crypto

The upcoming November US elections have ignited a significant interest within the crypto community, as the narrative for a crypto-compatible regulatory environment takes center stage. The sector's landscape is marred by uncertainty, prompting figures within the industry to keenly observe the political stances of candidates on cryptocurrency and blockchain technology.

Crypto Advocacy and Political Action

A newly established Political Action Committee (PAC) by Stand With Crypto, a venture started by Coinbase, aims to support pro-crypto candidates. As a nonprofit, the organization champions for sensible crypto regulation and has gathered a substantial following. The objectives are clear—endorsement and financial support for bipartisan candidates inclined towards fostering a crypto-supportive policy framework.

Big Money and Political Influence

The entry of significant funding into politics from crypto super PACs such as Fairshake, Defend American Jobs, and Protect Progress has raised eyebrows, with major contributions flowing from corporate and venture capital powerhouses, including well-known industry figures. Though these super PACs are barred from direct campaign coordination, their financial muscle is undeniably influential, even as regulatory scrutiny looms following questionable fundraising practices in the sector.