‘Stand With Crypto’, a lobby group backed by cryptocurrency exchange Coinbase, is hoping to capitalise on a wave of momentum from Donald Trump’s decisive US election win.
Pro-crypto lobby group Stand With Crypto is hoping to capitalise on a wave of momentum from Donald Trump’s decisive US election win, launching in Australia to push for crypto-friendly legislation and fight the technology’s “crypto bro” image problem.
Donald Trump said during his campaign he wanted to make the United States “the crypto capital of the planet”.The crypto sector outspent oil companies, banks and Elon Musk on the election. Stand With Crypto developed a grading system for candidates across the country, rating them from F to A on their stances.
Crypto has boomed following the election, with bitcoin surging past its all-time high and now on track to hit $US100,000 within weeks. Its price is up 93 per cent over the year to date.Some 20 per cent of Australian adults hold some form of cryptocurrency, according to Duff Gordon, but the nation finds itself at a regulatory impasse, preventing further adoption and investment.
“Much like the early days of the internet and the dotcom bubble, though, the strongest companies who take care of clients the most will ultimately rise to the top,” he told this masthead. “I acknowledge and support the crypto industry’s proactivity in helping to shape sensible regulation,” he said.
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