The Stand With Crypto movement has gained significant traction in recent times, with over one million people joining as advocates for the industry. This surge in membership was largely in response to a Whitehouse veto threat and the subsequent bipartisan wins in the House and Senate. The movement prides itself on being non-partisan and has garnered strong momentum for pro-crypto policies in America.
Legislative Victories
The Stand With Crypto Alliance, launched by Coinbase in August 2023, has played a significant role in mobilizing the crypto community to engage directly in the legislative process. Recent wins, such as the passing of the Financial Innovation and Technology for the 21st Century Act (FIT21), have demonstrated the industry’s growing influence in the political arena.
Coinbase CEO Brian Armstrong highlighted the potential impact of the Stand With Crypto movement in the upcoming November US presidential election. With over a million supporters and $87 million in donations, the movement represents a sizable voting bloc that could sway political decisions in favor of the crypto industry. Armstrong emphasized that being anti-crypto is bad politics, as it alienates a significant number of Americans who have embraced this technology.
The crypto industry has shown its commitment to supporting pro-crypto candidates through substantial financial contributions. Companies like Coinbase, Ripple, and Andreessen Horowitz have donated tens of millions of dollars to political action committees (PACs) that advocate for crypto-friendly policies. These contributions serve as a clear indicator of the industry’s willingness to invest in shaping its regulatory environment.
The Stand With Crypto movement has emerged as a formidable force in advocating for pro-crypto policies and protecting the interests of the industry. With a growing number of supporters and significant financial backing, the movement is poised to play a crucial role in influencing political decisions and shaping the future of crypto regulation in America.