The Fairshake PAC, funded by major crypto companies including Coinbase and Ripple, backed Republican candidates Jimmy Patronis and Randy Fine in securing their U.S. House seats in Florida.
The wins of Patronis and Fine signal progress toward favorable crypto regulations and policies.
The backing of these pro-crypto candidates by Fairshake PAC will influence the shaping of future laws pertaining to cryptocurrency activities in the USA.
The election outcomes contribute to efforts in Washington to create beneficial crypto regulations, potentially leading to the passing of stablecoin regulation and new frameworks for the crypto market.