It’s no secret that a group of crypto-friendly candidates won the elections held in November. We will start to see what it means today.
It’s sort of true. It was only hours ago that the Republican House gathered to vote on whether or not to reelect Mike Johnson. Before crypto matters are the focus, there are a number of other important issues that need to be addressed.
It appears that they’ll eventually catch on, as crypto market structure legislation and stablecoins are expected to get more attention in the next few months. As mentioned yesterday, Rep. French Hill tapped Allison Behuniak — staff director of the House Financial Services Committee’s digital assets subcommittee — to serve as the committee’s policy director.
Stand with Crypto has tallied 298 crypto friendly legislators for the 119th Congress. In an attempt to increase awareness, the organization hosted a gathering of coffee drinkers on Friday. “build camaraderie among the pro-crypto legislators, policymakers and community members.”
Faryar Shirzad is the Coinbase Chief Policy Officer. He posted a picture of a coffee at the event on X. A couple of days ago, he had expressed the following expectations for 2019.
Shirzad measured 2024 industry success when I interviewed him in October, prior to elections. He said there were virtually no candidates who pushed an anticrypto message.
“Because I don’t think it has any resonance,” He explained it at the time. “I think you can fit every anti-crypto voter in the country all in a single bus — maybe even a single minivan.”
A X-user warned me this morning about the fact that there are two things to consider. “talk the talk” Pre-election Survey Keeping the pressure on the lawmakers — letting them know “they are constantly being watched and scrutinized” — is the next step.
It’s an excellent idea, for sure. The optimism that these politicians will follow through on their promises seems to have a real basis.
In a post on Nov. 6, Blockchain Association CEO Kristin smith described the most important takeaway from this election: “There is zero electoral upside to being anti-crypto.”
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