Undecided House Races May Increase Pro-Crypto Presence in Congress

Remaining House elections could add more crypto allies

Fourteen U.S. House races remain undecided more than a week after the elections. These uncalled contests could increase the number of crypto supporters in Congress, following a vote that gave Democrats control of both the House and the Senate. Advocacy groups view these final races as a chance to reach candidates who have not yet taken a public stance on digital assets.

The remaining races include several candidates who are either labeled as supportive of crypto or have no stated position. Political action committees (PACs), which are organizations that raise money to support specific candidates or legislation, have already provided financial backing to three individuals in these undecided contests.

Current state of the uncalled races

• There are 14 U.S. House races that have not yet been called.
• Crypto PACs provided financial backing to three candidates in these remaining races.
• According to the advocacy group Stand With Crypto, the House currently has 246 supporters of the industry and 107 opponents.
• The Senate has 50 supporters and 33 opponents.
• Approximately one-quarter of the incoming Congress will consist of new members.

Spending and candidates in undecided districts

The Defend American Jobs PAC, a Republican-leaning group, spent $508,142 to support Rep. Nick Begich in Alaska and $150,600 for Rep. David Rouzer in North Carolina. Both incumbents are currently leading in their respective races. In Louisiana, state Senator Blake Miguez received $250,000 in support from the Fellowship PAC as he heads into a runoff election.

On November 11, the Associated Press called the race for incumbent Rep. Joe Wilson in South Carolina. Wilson is considered strongly supportive of crypto. Advocacy groups are now focusing on the candidates in the remaining races who have not yet expressed a clear position on blockchain, the digital ledger technology that supports cryptocurrencies.

The importance of educating new lawmakers

Lindsay Fraser, Chief Policy Officer of the Blockchain Association, stated that the high number of new members in the incoming Congress represents a "blank slate" for the industry. The association intends to focus on education, as many new lawmakers have not yet formed opinions on blockchain technology.

Fraser noted that age appears to influence support for crypto more than political party. Lawmakers under the age of 55 are generally more likely to support the industry. The Blockchain Association aims to build a base of thoughtful supporters to ensure the industry does not depend entirely on the outcome of a single election cycle.

Key dates for the incoming Congress

The race for Louisiana’s 6th District will be decided in a runoff election scheduled for December 12. In January, the Blockchain Association plans to hold a "fly-in" event to meet with and educate the newly elected members of Congress. The goal is to move more members into categories that are supportive of the crypto industry before the next major election cycle.

Sources

• Cointelegraph