Crypto's campaign efforts see rare loss, but crypto roster in Congress likely to grow
abstrak:Fairshake, the crypto-focused political action committee, has been steadily building a bloc of pro-crypto lawmakers in Congress through primary victories, with most of its endorsed candidates expected to win in November. However, it suffered a notable defeat in Illinois, where it spent over $10 million opposing Lieutenant Governor Juliana Stratton in her Senate race. The stakes are high for next year‘s Senate, especially as the industry’s key legislative priority, the Clarity Act, faces a last-minute push for a floor vote this week. Even if that bill passes, the crypto sector still seeks additional measures, including clearer tax rules for digital assets, to address broader user needs.
Fairshake has been building and maintaining a cohort of crypto supporters in Congress, already adding a number of news names in primary victories over past months in races in which the PAC's favored candidate is expected to win in the November elections. While the vast majority of candidates the PAC and its affiliates supported have won their primaries, the effort saw a significant setback in Illinois, where Fairshake spent more than $10 million trying to defeat Lt. Gov. Juliana Stratton in her Senate bid.
Every member of next year's Senate could be vital, depending especially on whether the industry's chief policy aim — the Clarity Act — prevails in its last-second drive for a Senate vote this week. Even if Clarity is resolved this year, the crypto sector is hoping for a number of other legislative answers to user needs, including crypto tax rules.
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