Stand With Crypto Rolls Out Senate Endorsements Following Clarity Act Failure

Crypto advocacy group Stand With Crypto has rolled out its first round of Senate endorsements following the failure of the Clarity Act in a recent procedural vote. The group, backed by Coinbase, will support Republican Sen. Jon Husted in Ohio, who is running against former Sen. Sherrod Brown, as well as candidates Ashley Hinson in Iowa and Chris Pappas in New Hampshire.

The Clarity Act, which would have set a regulatory framework for the industry at the federal level, stalled in the Senate on September 15 due to concerns over President Donald Trump's potential personal profits from cryptocurrency. The bill had previously passed through the House last year with support from several current lawmakers who have now been endorsed by Stand With Crypto.

Stand With Crypto's executive director, Mason Lynaugh, stated that the group is shifting its focus towards ensuring pro-crypto champions are in office to carry forward the fight for clear rules of the road. The group has launched a voter hub grading lawmakers based on their crypto positions and has spent millions of dollars through super PACs to influence political outcomes.