Crypto in the Swing States
Stand with Crypto has strategically focused its efforts on swing states. The group now boasts nearly 24,000 members in Georgia, a state where President Biden narrowly defeated Donald Trump in the 2020 election. And they have over 16,000 members in Arizona, another key battleground.
A surge in membership was driven by President Biden’s veto on May 31 of a measure that sought to overturn the Securities and Exchange Commission’s (SEC) accounting bulletin on crypto assets. This veto, along with strong support for a Republican-sponsored bill aimed at establishing a new legal framework for digital currencies, has galvanized crypto advocates.
The Financial Innovation and Technology for the 21st Century Act recently passed in the House of Representatives with bipartisan support, despite opposition from the White House and concerns raised by SEC Chair Gary Gensler about potential risks for investors and markets.
Seeking Bipartisan Support
While Armstrong has not endorsed any presidential candidate, he stressed the importance of maintaining bipartisan support for cryptocurrency issues to ensure the passage of necessary legislation.
