U.S. midterms pack major digital assets wallop as Stand With Crypto preps strategy
Stand With Crypto is endorsing candidates and releasing polling ahead of the U.S. midterms, which could significantly impact crypto legislation.Summary
The upcoming U.S. midterm elections are poised to significantly affect the crypto sector's legislative efforts, prompting the advocacy group Stand With Crypto to prepare its strategy. Established by Coinbase, the group announced endorsements in six key battleground races, backing both supportive incumbents like Republican Zach Nunn and Democrat Don Davis, while opposing candidates hostile to crypto interests. Stand With Crypto plans to mobilize its membership to vote and fund media campaigns. A commissioned poll showed that while Republicans are favored 45% to 26% among crypto owners, neither party holds a clear majority advantage as the industry's best advocate. Crypto enthusiasts are highly motivated, with 64% enthusiastic about supporting pro-crypto candidates. The midterms carry major consequences, as control of Congress could shift, potentially lowering the priority of remaining crypto legislation, such as tax system tailoring or establishing a strategic bitcoin reserve, even if the Digital Asset Market Clarity Act passes.
(Source：CoinDesk)