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The Encryption Political Action Committee increases spending on primaries, and the “Clarity Act” gets a key window for advancement
Meanwhile, the Crypto Political Action Committee continues to increase support for pro-crypto candidates. Fairshake's Protect Progress has invested approximately $5.5 million in Democratic primary candidate Adrian Boafo for Maryland's 5th district, and about $1.5 million in the re-election campaign of Ritchie Torres, the Congressman for New York's 15th district.
Supported by Anchorage Digital and Chainlink, the Blockchain Leadership Fund is also involved in supporting Boafo.
Additionally, last week, Fairshake spent around $12 million to help Alabama Republican Senate primary candidate Barry Moore secure a victory.
Industry organization Digital Chamber will hold a lobbying event on Capitol Hill this week to promote legislation for the Clarity Act and crypto tax rules. Sources say some gambling industry groups hope to include provisions banning prediction market platforms for sports betting in the bill, but such content is unlikely to garner enough support.