The recent elections in the US brought victories for pro-crypto candidates, providing significant political representation for the crypto industry.
Crypto Industry's Political Influence
According to Stand With Crypto (SWC) data, 261 pro-crypto candidates won seats in the House of Representatives, while only 116 candidates opposed to cryptocurrency secured positions. In the Senate, 17 crypto supporters were elected, marking a significant shift towards crypto industry support in US politics. SWC reports the industry contributed over $200 million to political campaigns.
Key Crypto Allies Elected
Among notable pro-crypto politicians are re-elected Senators Kirsten Gillibrand of New York and Ted Cruz of Texas. They are known for their support of pro-crypto legislation and a balanced approach to cryptocurrency regulation.
The Role of Donald Trump in the Election
Donald Trump's 2024 campaign saw significant crypto support. At the Bitcoin 2024 Conference, Trump emphasized his commitment to crypto, promising to use Bitcoin as a strategic reserve asset and to replace Gary Gensler as SEC chairman.
The political victories of pro-crypto candidates may lead to clearer regulatory frameworks that support innovation.
