Stand With Crypto backs candidates after Senate bill stalls

Stand With Crypto said Wednesday it would endorse three Senate candidates and several House candidates for the next Congress, shifting its advocacy toward elections after the CLARITY Act failed to advance in the Senate. The endorsements include Republican Sen. Jon Husted of Ohio, Republican Ashley Hinson of Iowa and Democrat Chris Pappas of New Hampshire, as well as House members Shomari Figures, a Democrat from Alabama, and Republican Mariannette Miller-Meeks of Iowa. The Senate vote took place September 15. The bill failed to clear a cloture vote, which required 60 votes to advance; the reported tally was 49-50. The legislation would have established federal rules for digital-asset markets and clarified oversight roles for the Securities and Exchange Commission and Commodity Futures Trading Commission. Stand With Crypto executive director Mason Lynaugh said the group’s more than three million advocates were redirecting their focus toward electing candidates who support crypto policy. The group has also said it would increase advertising in six House races, including those involving Democratic Rep. Don Davis and Republican Rep. Bryan Steil.