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Blockchain Association Unveils BA PAC to Support Both Pro-Crypto US Parties

13-Sep-2022 By: Shailja Joshi
Blockchain Associati

US-based trade group Blockchain Association announced on Monday (September 12th) that it had formed a political action committee known as BA PAC.

The committee's goal is to join an industry trend by attempting to exert greater influence on candidates as the midterm elections in November approaches.

According to its website, the Blockchain Association, which was created in 2019, has 90 members, including several of the industry's major names. Binance is a notable exception, having left the group in April to lobby Congress on its own. The association's stated goal is to educate legislators, judges, law enforcement, and the general public about crypto networks, ledgers, and the need for legislative clarity.

In a tweet, Association Director Kristin Smith stated, "BA PAC is a bat signal for legislators: crypto is here to stay, and we will support candidates who reflect our vision."

Smith pledged an impartial screening procedure for the Blockchain Association's pro-crypto candidates.

According to lobbying tracker Open Secret, the Blockchain Association has already spent $930,000 on lobbying this year, with at least three lobbying companies assisting it. Furthermore, Blockchain Association individual members, workers, or proprietors, as well as those individuals' immediate family members, contributed $104,500 to political causes. 

According to the analysis of sources, crypto industry supporters contributed $72.8 million to federal candidates and committees between January 2021 and the end of July 2022. This amount much-outweighed contributions from the oil and gas, transportation, and defense industries.

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