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Stand With Crypto Launches Political Action Committee
Digital asset advocacy group Stand With Crypto has announced the launch of its own political action committee (PAC) to support pro-crypto politicians in the upcoming November 2024 elections. The committee aims to endorse and support candidates who prioritize the rights of crypto advocates associated with Stand With Crypto.
Endorsed Candidates
The PAC has already backed a diverse group of political candidates, including 2024 Congressional hopefuls Eddy Morales (D-OR), Shomari Figures (D-AL), and Troy Downing (R-MT), as well as Senatorial candidates Jim Justice (R-WV) and Jim Banks (R-IN).
Support for Crypto-Friendly Politicians
In a move to raise funds from its 440,000 members, the cryptocurrency nonprofit has initiated this PAC to support candidates who are favorable towards digital assets. This bipartisan approach includes candidates running for positions in the House of Representatives and the Senate.
Crypto’s Role in the 2024 Elections
Recent data from the Digital Currency Group (DCG) indicates that crypto is becoming a significant issue for voters, with one in five swing state voters considering it a key factor in the upcoming elections. The PAC has expressed support for both Donald Trump and Robert Kennedy in the 2024 U.S. presidential race, citing their pro-crypto stances.
Stand Against President Biden’s Stance on Digital Assets
The crypto PAC has criticized President Joe Biden for his strict approach towards digital assets, giving him an ‘F’ rating. Biden’s recent decision to veto H.J. Res. 109 proposed by representatives Mike Flood (R-NE) and Wiley Nickel (D-NC) has drawn backlash from pro-crypto lawmakers. The resolution aimed to challenge the SEC’s controversial SAB 121, which mandates banks to disclose crypto-related liabilities on their balance sheets.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
