Crypto Lobby Group Backs Pro-Blockchain Candidates Ahead of U.S. Midterms

Washington, D.C. – The clock is ticking – in less than two months, the U.S. will decide the future of Congress in the midterms. And the crypto industry won’t be sitting idly by. Stand With Crypto, a lobby group closely tied to crypto exchange Coinbase, has just released its political wish list. Its goal? To push for the "most crypto-friendly legislation of all time." And it means business.
Why the crypto world is applying pressure now
It’s no secret that the industry has been battling restrictive regulations for months – whether against the EU’s MiCA draft or the ambitious plans of the U.S. Securities and Exchange Commission (SEC). Coinbase has felt the brunt of these battles firsthand, especially after the SEC’s lawsuit last summer. Now, the industry is hitting the brakes: Stand With Crypto wants to support politicians who don’t just understand what a "smart contract" is but are also willing to ease the rules for digital assets.
Three key points are at the center of its agenda:
1. No bans, but clear rules – The group opposes blanket restrictions on crypto. Instead, it advocates for laws that don’t stifle innovation before it even begins.
2. Lower taxes – but fairly – Why should crypto transactions be taxed like gambling? Stand With Crypto demands a sensible approach that doesn’t favor speculators or punish real-world usage.
3. Blockchain startups need space – Particularly in states like Texas or Florida, which have established themselves as crypto strongholds, the group wants to create favorable conditions for young companies to thrive.
Who gets the support – and why?
The recommended list reads like a who’s who of crypto advocates in Congress:
- Ted Cruz (Republican, Texas) – The senator is known not just for liking Bitcoin but actively promoting it. He has already backed laws to facilitate Bitcoin mining in Texas.
- Ritchie Torres (Democrat, New York) – A rare case: a Democrat who openly opposes hasty crypto bans and advocates for nuanced regulation.
- Young disruptors in swing states – In battleground states like Pennsylvania or Georgia, politicians with cry



pto ties are being nurtured for the first time. What they all share is a clear stance: the SEC has too much power, and the industry needs room to breathe.
Interestingly, Stand With Crypto emphasizes its bipartisan approach. But a closer look at the list reveals a clear trend: most recommendations come from Republican ranks. This isn’t a coincidence – the GOP has traditionally held a more economically liberal stance and is more open to innovative financial technologies.
The opposition – why not everyone is thrilled
Of course, there are critics. Organizations like Public Citizen warn that powerful crypto firms could buy political influence through campaign donations. "This leads to a one-way street for billion-dollar companies," they argue. And indeed, if Coinbase and others support candidates who then pass laws benefiting the industry, where does consumer protection fit in?
Even within the crypto community, there are skeptics. Some maximalists, who view Bitcoin or Ethereum as an alternative to the traditional financial system, reject political alliances entirely. To them, any collaboration with regulators is a betrayal of decentralized freedom’s original ideals.
What comes after the midterms?
Regardless of the election outcome, the debate over crypto regulation in the U.S. will continue. If Republicans gain a majority in Congress, expect a relaxation of SEC policies – at least in the short term. That would give the industry some breathing room.
But the real question is: Can Stand With Crypto build enough long-term pressure to gain widespread political acceptance for crypto? The midterms could be the first real test.
Conclusion: The 2024 U.S. congressional elections could indeed be a turning point for the crypto industry. With Stand With Crypto, a formal lobby group has emerged for the first time, actively promoting political candidates. Will this lead to greater legal clarity or deepen the divide between innovators and regulators? The answer will unfold over the coming months. One thing is certain: crypto politics will be hotly debated – and that’s a good thing.