Most US Politicians Now Support the Crypto Sector

Bipartisan support for cryptocurrencies is on the rise in the US government, significantly influencing future regulation and policy.

Currently, 310 politicians strongly support the crypto industry, while only 41 oppose it. With a theoretical two-thirds majority of Republicans in both houses of the legislature, pro-crypto legislation could potentially be passed.

The House of Representatives has shown stronger support towards the crypto sector, with significant bipartisan support, making it more favorable to passing pro-crypto legislation.

Also evident is the growing recognition of the potential of crypto technology to innovate and maintain US competitiveness. However, concerns about consumer protection, economic stability and regulatory oversight continue to influence the debate. Recent legislative actions, such as the Financial Innovation and Technology for the 21st Century Act (FIT21), demonstrate growing momentum behind pro-crypto policies.

This bill, which aims to create a regulatory framework for digital assets, has received bipartisan support in the House of Representatives.
As the 2024 elections approach, cryptocurrencies are expected to become a key issue in political campaigns, with industry influence reflected in the creation of crypto-focused political action committees and their significant fundraising efforts.

Achieving comprehensive crypto regulation will require bridging the partisan divide in the Senate while leveraging bipartisan support in the House of Representatives.

Alexander Stefanov