Cryptocurrency

United

Bitcoin

Impact

Million

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>The Stand with Crypto Alliance PAC, initiated by Coinbase, has over 1 million American advocates.</li> 
 <li>The “Financial Innovation and Technology for the 21st Century Act” (FIT21) aims to develop a comprehensive regulatory framework for cryptocurrencies and digital assets.</li> 
</ul>  
<p>The Stand with Crypto Alliance, a political action committee established by <a href="https://crypto.ro/en/exchange/gdax/">Coinbase</a> in 2023, has recently reported that more than a million Americans have joined the cause to voice their opinions in Washington, D.C.</p> 
<p>The pro-cryptocurrency PAC reveals that 52 million Americans currently possess some form of cryptocurrency. Furthermore, 87% of Americans surveyed feel that the existing financial system requires a revamp. The Stand with Crypto Alliance also stated that 45% of participants would not support an anti-cryptocurrency candidate.</p> 
<h2 id="focus-on-fit21">Focus on FIT21</h2> 
<p>The “Financial Innovation and Technology for the 21st Century Act” (FIT21) is a key concern for the Stand with Crypto PAC. This proposed legislation, which aims to initiate the creation of a comprehensive regulatory structure for cryptocurrencies and digital assets in the United States, was approved in the House of Representatives by a 278-136 vote.</p> 
<p>The bill received more backing from Republican lawmakers, with 200 voting in favor, compared to the 70 Democrats who supported FIT21. Despite these numbers, the bill still needs approval in the Democrat-controlled Senate, where several of cryptocurrency’s fiercest critics, including Elizabeth Warren, hold positions.</p> 
<h2 id="political-impact-of-cryptocurrency">Political Impact of Cryptocurrency</h2> 
<p>The pressure from the cryptocurrency community and the blockchain industry has turned cryptocurrency into a significant political issue with implications for the 2024 presidential election and beyond.</p> 
<p>Former President Trump’s recent endorsement of cryptocurrencies and blockchain innovation indicates that support for crypto has evolved from a niche issue to a nationally recognized topic. The 2024 presidential candidate stated that he had no objections to the continued growth of the crypto industry, emphasizing that if innovation is not fostered in the United States, it will take root elsewhere, putting the U.S. at a significant disadvantage in regards to the future of money and finance.</p> 
<p>Trump’s statements contrast sharply with his previous stance against <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin (BTC)</a> and cryptocurrencies, possibly indicating a broader shift in government attitudes toward digital assets in the United States. Following the former president’s comments and support for the crypto industry, it was reported that Joe Biden’s campaign contacted industry representatives to seek their advice on the administration’s future crypto policy.</p>

Crypto Advocacy Group Hits 1 Million Members: Join the Stand

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