A first in American history: Congress is filled with crypto-friendly names.

The impact of the cryptocurrency sector in the political arena of the United States is steadily increasing. With approximately $160 million in political spending, cryptocurrency firms and investors are supporting industry-friendly lawmakers in the House of Representatives and the Senate. This movement aims to initiate a new congressional session that supports cryptocurrency policies.

The Rise of the Crypto Sector in the Political Arena Continues

The political influence of the cryptocurrency industry in the United States is gaining a new dimension with record levels of financial support for election campaigns. With around $160 million in political spending, both Democratic and Republican parties are preparing to welcome crypto-friendly candidates into Congress.

In the upcoming term, 13 new crypto-friendly names are expected to serve in the House of Representatives. Among these names are progressive Democrats who view digital assets as a tool for financial inclusion, as well as Republicans who criticize the current administration's cryptocurrency policies and consider this technology as the key to economic freedom.

A similar picture is evident in the Senate. The presence of California Democrat Adam Schiff and Utah Republican John Curtis in the Senate is almost certain. The weight of crypto-supporting Republican candidates in important Senate races indicates that every seat won by the party will mean a new ally for the sector.

According to Jordan Libowitz from Citizens for Responsibility and Ethics in Washington, the cryptocurrency industry has quickly become one of the biggest spenders in the election cycle. In particular, the support given to Democratic candidates by crypto-friendly political action committees is seen as a significant indicator of the sector's bipartisan strategy.

The sector's influence is evident in nearly 50 election races in the House of Representatives, with candidates like Shomari Figures from Alabama and Emily Randall from Washington being among the most significant recipients of this support. On the Senate front, Democratic candidates like Ruben Gallego from Arizona and Elissa Slotkin from Michigan stand out with their support for crypto-friendly policies.

The new Congress that will take office after the 2024 elections is expected to be the most crypto-friendly legislative body in U.S. history. Despite the fact that cryptocurrency products are still used by a limited segment of society, the significant financial support from industry leaders to the political system has elevated this area to a priority position on the political agenda.