Blockchain Association Launches PAC for Pro-Crypto Candidates

The Blockchain Association has launched a new Political Action Committee (PAC) that will offer support to pro-crypto political parties and their candidates. 

Notably, the support from the PAC is not limited to just a political party but will cut across both sides of the aisle. Kristin Smith, the Executive Director of the Washington DC-based trade group took to Twitter to announce the new BA PAC on Monday.

Seeking to portray the reason for the PAC’s launch, Kristin outlined a series of tweets to share Blockchain Association’s stance. 

According to Kristin, Blockchain Association plans to anchor these pro-crypto candidates on the strength of the crypto industry. In turn, the PAC will reflect the point of view of the trade group while it seeks out candidates to offer its support either during their election or reelection into office.

“We believe crypto is by definition a non-partisan issue. We will support candidates in that spirit, seeking the best champions for this technology no matter which side of the aisle they come from,” Kristin said. “BA PAC is a bat signal for lawmakers: crypto is here for good and we will support candidates who share that vision and embrace the idea that this technology is a positive force for improving the lives of our fellow citizens. We have a great group to help steer the success of this enterprise, and we thank them for joining the effort.”

Blockchain Association and Campaign Funding

Meanwhile, it may be too late for the PAC to be very active in the upcoming November election which will determine if the Republicans are taking over power or the Democrats are going on another tenure. 

Although the Blockchain Association has promised to donate to candidates in the November elections. However, the 2024 presidential elections will experience the full effect of the BA PAC. 

The use of crypto PACs to fund political agendas and campaigns is fast taking precedence in the United States. 

Cryptocurrency exchange Coinbase submitted its registration for a PAC in February in preparation for the U.S 2022 mid-term election. FTX Digital Markets Co. CEO, Ryan Salame was recently called out for funding his girlfriend, Michelle Bond’s political campaign for the U.S Congress. Bond is running for Congress as a Republican in New York’s 1st congressional district.