Advocacy Group Backed by Coinbase Launches Political Action Committee to Support Crypto-Friendly Candidates 🚀
A nonprofit digital asset advocacy group supported by Coinbase is reportedly launching a Political Action Committee (PAC) to back politicians who are friendly towards digital assets and cryptocurrencies. The group, Stand With Crypto, which boasts 440,000 members, is gearing up to support bipartisan candidates contesting for positions in the Senate and the House of Representatives in the upcoming elections.
- Stand With Crypto PAC aims to back crypto-friendly candidates for Senate and House elections
- The PAC endorses candidates from both major political parties, including Republicans and Democrats
- Notable candidates supported by the PAC include Jim Banks, Jim Justice, Shomari Figures, Eddy Morales, and Troy Downing
Supporting Advocates of Digital Assets through Political Channels 🔥
Stand With Crypto’s Chief Strategist, Nick Carr, highlighted the PAC’s objective of supporting and endorsing candidates who advocate for the rights of Stand With Crypto members during the elections held in November. The PAC differs from Super PACs in that it cannot accept unlimited donations but is allowed to coordinate directly with the campaigns of the candidates it supports.
- Stand With Crypto aims to protect the interests and rights of its advocates during elections
- Endorsed candidates are those who align with the values and beliefs of the Stand With Crypto community
- Identification of lawmakers based on their support or opposition to digital currencies helps in guiding endorsements
Polarized Views on Crypto Among US Senators 📉
In an effort to inform their advocacy decisions, Stand With Crypto previously assessed the stances of key politicians on digital assets. Senators Ted Cruz and Cynthia Lummis received high marks for their support of cryptocurrencies, while Senators Elizabeth Warren and Sherrod Brown were graded poorly for their negative stance on virtual currencies.
- Assessment of senators’ positions on crypto plays a crucial role in endorsing candidates
- Differentiation between senators supporting and opposing digital assets is key for the advocacy group
- Evaluation of lawmakers helps in identifying allies and opponents of the digital asset community
Empowering Advocacy through Political Support 💪
Stand With Crypto’s move to establish a PAC reflects its commitment to championing the interests of digital asset advocates in the political arena. By endorsing candidates who align with their values, the group is working towards creating a supportive ecosystem for cryptocurrencies within the legislative framework.
- The PAC’s launch signifies a proactive step by advocates to influence policy through political channels
- Endorsed candidates are expected to uphold the values and principles of the digital asset community
- Direct coordination with endorsed candidates allows for strategic support and advocacy efforts
Hot Take 🌶️
In conclusion, the establishment of a Political Action Committee by Stand With Crypto marks a significant development in the intersection of digital assets and politics. By endorsing candidates who support the crypto community, the advocacy group is taking proactive steps to ensure that the interests of digital asset advocates are represented in key political decisions.
The post Stand With Crypto Unveils Political Action Committee (PAC) To Support Digital Asset-Friendly Candidates: Report appeared first on The Daily Hodl.
Sources:
1. Reuters
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