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Stand With Crypto Lobbies for Pro-Crypto Policies

By Vukan Ljubojevic | TH3FUS3 Senior Writer

July 11, 2024 07:22 AM

Reading time: 1 minute, 39 seconds

TL;DR The crypto advocacy group Stand With Crypto is actively lobbying for pro-crypto policies. This comes as former Senator Pat Toomey calls for blocking SEC Commissioner Caroline Crenshaw's renomination, citing her anti-crypto stance.

Stand With Crypto's Mission

The crypto advocacy group Stand With Crypto is making significant strides in lobbying for pro-crypto policies. Their efforts have intensified as the political climate heats up, especially with recent developments involving key regulatory figures.

The Crenshaw Controversy

Two weeks ago, U.S. President Joe Biden's administration announced a second term for SEC Commissioner Caroline Crenshaw.

Crenshaw is known for her anti-crypto stance during policy-making, which has sparked controversy among pro-crypto advocates. Former Pennsylvania Senator Pat Toomey is now calling for Republicans to unite in blocking her reappointment.

Toomey's Call to Action

Pat Toomey, who formerly served as the Ranking Member on the Senate Banking Committee, has made a strong case against Crenshaw's renomination.

He has also called for blocking Christy Goldsmith Romero's nomination to lead the FDIC. Toomey emphasized that the Senate Banking Committee and the Banking GOP should pull out all the stops to prevent these nominations.

"The Senate Banking Committee and the Banking GOP should pull out all the stops to prevent these nominations," said Toomey.

During her tenure, Crenshaw has opposed the launch of spot Bitcoin ETFs and has been a staunch advocate for stringent crypto policies. Critics argue that her stance is even more stringent than that of SEC Chair Gary Gensler. Notably, billionaire Mark Cuban has warned that Gensler and his colleagues could cost the Biden administration the next election.

Stand With Crypto's Capitol Hill Meetings

As the election dates approach, Stand With Crypto is ramping up its efforts to support pro-crypto candidates and advocate favorable policies.

On Wednesday, July 10, the group hosted four founders for a day of meetings on Capitol Hill. The goal was to influence policy-making by connecting crypto advocates directly with their elected representatives.

Stand With Crypto thanked the advocates who contacted their representatives and the founders who traveled to meet with officials in person.

They emphasized that whether through emails, calls, or face-to-face meetings, every action helps advance their cause in this critical election year.

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