Bipartisan support for cryptocurrencies is growing in the US government, which is having a significant impact on future regulation and policy. 

Currently 310 politicians firmly support the crypto industry, while only 41 are against it. With a theoretical two-thirds Republican majority in both houses of Congress, the pro-crypto legislation could potentially pass.

The House of Representatives is showing stronger support for the crypto sector, with significant bipartisan support, making it more favorable to pass pro-crypto legislation. 

Also evident is the growing recognition of the potential of crypto technology to innovate and maintain US competitiveness. However, concerns about consumer protection, economic stability and regulatory oversight continue to influence the debate. Recent legislative actions such as the Financial Innovation and Technology for the 21st Century Act (FIT21), demonstrate a growing momentum behind pro-crypto policies.

This bill, which aims to create a regulatory framework for digital assets, has received bipartisan support in the House of Representatives.

As the 2024 elections approach, cryptocurrencies are expected to become a key topic in political campaigns, with the industry’s influence manifesting in the creation of focused cryptocurrencies political action committees and their significant fundraising efforts. 

Achieving comprehensive crypto regulation will require bridging the partisan divide in the Senate while leveraging bipartisan support in the House of Representatives.