Stand With Crypto endorses 32 U.S. House candidates ahead of midterm elections

Crypto advocacy group backs 32 House candidates

The crypto advocacy group Stand With Crypto (SWC), which is supported by the cryptocurrency exchange Coinbase, has endorsed 32 candidates running for the U.S. House of Representatives in the upcoming midterm elections. The group aims to support lawmakers who favor clear regulations for the crypto industry.

SWC plans to announce its Senate endorsements closer to Election Day. The group stated that the midterm elections come at a critical time for crypto policy in Washington, D.C., as candidates from both political parties seek to attract voters beyond traditional groups.

Key details of the endorsements

• Stand With Crypto has endorsed 32 House candidates it considers pro-crypto.
• The group will reveal Senate endorsements later, ahead of the November elections.
• SWC previously launched a voter hub that rates lawmakers based on their stance on crypto.
• The group is pushing for a vote on the Clarity Act, a bill that would create federal regulations for the crypto industry.

Why the group is focusing on the midterms

Stand With Crypto’s Executive Director, Mason Lynaugh, said in a statement that candidates who ignore crypto voters do so at their own risk. The group and the broader crypto industry played a major role in the 2024 elections by spending millions through political action committees (PACs) to support pro-crypto candidates.

For example, the PAC Fairshake spent $12 million in Ohio to help Republican Bernie Moreno defeat Sherrod Brown, a critic of crypto. Moreno was running against Brown, who was then the chair of the Senate Banking Committee. This year, Fairshake is backing Republican Sen. Jon Husted in his race against Brown.

What is the Clarity Act?

The Clarity Act is a proposed bill that would establish the first comprehensive federal regulations for the crypto industry. The next procedural vote on the bill is scheduled for September 15, after lawmakers return from their August recess. However, the bill currently lacks the 60 votes needed to advance in the Senate.

The bill has faced several challenges, including disagreements over how to handle stablecoins (a type of cryptocurrency pegged to a stable asset like the U.S. dollar), concerns about illegal finance, and debates over how to address former President Donald Trump’s crypto holdings, which have grown significantly.

Disagreements over the bill’s ethics provisions

In July, Trump agreed to an ethics rule that would bar public officials and their spouses from issuing or promoting digital assets. However, Democrats criticized the provision for limiting enforcement to the Justice Department. A new proposal from Senators Ruben Gallego and Thom Tillis would expand enforcement to state attorneys general, but Trump has not yet endorsed it.

Senator Kirsten Gillibrand, one of the bill’s lead negotiators, has called for stronger ethics rules. She cited a poll showing that 63% of Americans believe Trump’s crypto profits are inappropriate. Gillibrand argued that any crypto regulation bill must include an enforceable ban on officials profiting from crypto.

What is confirmed

• Stand With Crypto has endorsed 32 House candidates for the 2026 midterm elections.
• The group is backed by Coinbase and aims to influence crypto policy through political endorsements.
• The Clarity Act, a bill to regulate the crypto industry, is scheduled for a procedural vote on September 15.
• The bill currently lacks the 60 votes needed to advance in the Senate.

What is still unclear

• Whether the Clarity Act will secure enough votes to pass in the Senate.
• How disagreements over ethics provisions, particularly regarding Trump’s crypto holdings, will be resolved.
• Which Senate candidates Stand With Crypto will endorse ahead of the November elections.

Why this matters for crypto policy

The midterm elections could shape the future of crypto regulation in the U.S. Stand With Crypto’s endorsements highlight the industry’s growing political influence. If pro-crypto candidates win, it could increase the chances of passing the Clarity Act or other favorable legislation. The bill’s success or failure will determine whether the U.S. establishes clear federal rules for crypto or continues with a patchwork of state and agency regulations.

Sources

• The Block