Stand With Crypto Reacts to Passage of FIT21 Legislation

WASHINGTON D.C. - Today, the U.S. House of Representatives passed the Financial Innovation and Technology for the 21st Century Act, FIT21, legislation that aims toward achieving regulatory clarity for digital assets, with a strong bipartisan majority. FIT21 provides the robust consumer protections and regulatory certainty necessary to allow the digital asset ecosystem to flourish in the United States and provide consumers with important protections.

Nick Carr, Chief Strategist with Stand with Crypto, commented:

"Stand With Crypto is pleased at the bipartisan passage of FIT 21, the most important crypto legislation to date. FIT21 is a comprehensive bill that will protect consumers, ensure crypto companies have robust rules, create clarity for job creators and blockchain builders, and ensure American leadership on innovation in this important and growing sector. This milestone is a result of bipartisan support in Congress, driven by the millions of Americans who have urged Washington to provide a common-sense regulatory framework for digital assets in the United States."

Earlier this week, founders of over one hundred crypto companies, representing over 1,200 American jobs in the industry, signed a letter of support for the legislation. Tens of thousands of Stand with Crypto members have contacted their Members of Congress to urge them to support the legislation.

This week's advocacy is a continuation of Stand With Crypto's role as a leading voice supporting the growing crypto community, beginning with the first-ever crypto presidential forum. Held at the New Hampshire Institute of Politics in December 2023, three presidential candidates from both major political parties gathered to discuss the need for commonsense cryptocurrency policies. Since this event, crypto advocates have gathered around the country - from Atlanta to Boston and Washington, DC - to continue spreading this message.

Notably, Stand with Crypto was highly involved in the critical Super Tuesday primaries. In the days leading up to the closely watched California U.S. Senate primary, Stand with Crypto directed over 68,000 door-to-door voter contacts to the over 8.2 million California adults who currently own cryptocurrency - a powerful voting bloc in the state known for setting the direction of the nation.

These grassroots efforts culminated on Monday, March 4th with Stand with Crypto's get-out-the-vote rally at the historic Bourbon Room in Hollywood, CA, featuring Grammy-winning rap artist Nas and Coinbase CEO Brian Armstrong. Over 500 crypto advocates registered their support at The Bourbon Room. These crypto advocates' successful efforts resulted in two pro-crypto candidates emerging from Super Tuesday's primary as nominees in November's general election.

Stand With Crypto is dedicated to providing America's 52 million crypto owners who want their leaders to take action and help create a financial system that works for all Americans. Over 730,000 people have already signed up to be advocates in this election and stand up for a better financial system, and it is having an impact - candidates are answering Stand With Crypto's questions, participating in town halls across the country, and learning more about how to create a better system of regulations around crypto.