WASHINGTON, D.C. — Last week, Stand With Crypto — America’s leading crypto advocacy organization — hosted the first-ever Crypto Day of Action, driving more than 12,500 emails from crypto advocates across the country to their member of Congress, urging them to prioritize passage of bipartisan market structure legislation that will enable America’s crypto ecosystem to flourish, and solidify America’s global leadership in digital assets. Last month, the U.S. House passed market structure legislation (the CLARITY Act), and advocates are now urging the U.S. Senate to join their colleagues in passing companion legislation.

The Crypto Day of Action spurred advocates to directly engage lawmakers and stage a social media blitz, generating thousands of social media mentions and engagements and more than 53,000 unique viewers  – yielding 17 million minutes watched – for Stand With Crypto’s Crypto Day of Action livestream. 

Following Crypto Day of Action, Mason Lynaugh, Stand with Crypto community director, released the following statement:

“Thanks to the commitment and participation of our advocates nationwide, Stand With Crypto’s Crypto Day of Action showcased the strength of the grassroots movement and their ability to hold Congress’ feet to the fire to drive forward policies that will enable greater American participation in the blockchain economy, create millions of new jobs, and provide stronger protections for our country’s 52 million crypto owners. This is just the beginning, as Stand with Crypto will continue to work with our grassroots members and partners to ensure Congress takes the necessary steps to protect crypto owners and ensure that the United States is the crypto capital of the world.”

The Crypto Day of Action continues Stand With Crypto’s concerted effort to recruit advocates, educate community members, and highlight the importance of Congress passing market structure legislation. In the coming months, Stand With Crypto will activate advocates to engage with their elected officials through a number of actions, including a series of community-based events featuring local crypto advocates, artists, vendors, elected officials, musical guests, and a number of key external partners across the country.

Momentum Around Bipartisan Crypto Legislation 

This latest push furthers ongoing momentum on Capitol Hill to advance pro-crypto policies. Last month, the House of Representatives passed the CLARITY Act – which would provide market structure and rules of the road for cryptocurrency regulation – and the Senate circulated a companion discussion draft bill. This action came on the heels of enactment of the GENIUS Act — bipartisan legislation that for the first time creates a regulatory framework for stablecoins, signed by President Trump. 

If enacted, market structure legislation would ensure there are clear “rules of the road,” providing the regulatory clarity that developers, users, and advocates need to continue innovating. The current lack of a regulatory framework is already limiting innovation and hindering the U.S. crypto industry’s potential: The U.S. share of global blockchain developers has decreased by approximately 14% since 2018, dropping to 26% in 2023. This legislation would take a colossal step forward in solidifying America’s leadership in blockchain technology and the global digital economy. 

Over the past two years, Stand With Crypto has built a grassroots movement to mobilize and harness the voice of America’s 52 million crypto owners into a powerful and unified voting bloc, championing clear, common-sense regulations for the crypto industry and unlocking crypto’s innovation potential while fostering greater economic opportunity and freedom. With nearly 2.5 million crypto advocates registered nationwide, Stand With Crypto is on track to establish state chapters in all 50 states by the end of this year. Last month, Stand With Crypto mobilized advocates nationwide, driving more than 120,000 emails to lawmakers in the weeks leading up to action on both the GENIUS Act and the CLARITY Act.