Cryptocurrency political action committees (PACs) have accumulated substantial financial resources in preparation for the upcoming US midterm elections. These funds are intended for independent expenditures, which are defined by the Federal Election Commission (FEC) as spending on communications that explicitly support or oppose a specific candidate, without coordination with any candidate, campaign, or political party. The influx of funds highlights the growing influence of the crypto sector in political campaigns, as stakeholders aim to shape policy and regulatory outcomes favorable to the industry.
Crypto PACs Amass Significant Funds for US Midterms
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