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You may already be aware that several pro-crypto political candidates secured victories in the November elections. Today marks the beginning of understanding the implications of these wins.
However, before crypto-related matters take center stage, the Republican-led House recently convened to vote on the re-election of Mike Johnson as its speaker. There are other pressing issues that need to be addressed before crypto policies come into focus.
Nevertheless, it is anticipated that crypto market structure and stablecoin legislation will become key topics of discussion in the upcoming months. Rep. French Hill has appointed Allison Behuniak, the staff director of the House Financial Services Committee’s digital assets subcommittee, as the committee’s policy director.
According to Stand With Crypto, there are a total of 298 crypto-friendly legislators in the 119th Congress. The organization also organized a coffee gathering on Friday to foster camaraderie among pro-crypto legislators, policymakers, and community members.
Faryar Shirzad, the chief policy officer of Coinbase, was reportedly present at the event and shared his expectations for the new year. He previously mentioned that the success of the crypto industry in 2024 would be evident if there were virtually no candidates espousing anti-crypto sentiments.
One user on X emphasized the importance of holding lawmakers accountable and ensuring they are aware that their actions are under constant scrutiny. It’s essential for industry players to maintain pressure on legislators to uphold their pro-crypto stance.
Industry insiders remain optimistic about the commitment of these politicians to support crypto initiatives. Blockchain Association CEO Kristin Smith highlighted that there is no electoral benefit to taking an anti-crypto stance, emphasizing the growing acceptance of digital assets in the political landscape.