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The Crypto Political Action Committee appoints Tether executive as Chairperson
Golden Finance reports that on April 2, the crypto super PAC Fellowship PAC announced the appointment of Jesse Spiro, a U.S. executive at Tether, as chair, leading political action to support pro-crypto candidates.
The appointment comes as the Digital Asset Market CLARITY Act stalls in the Senate. The current point of contention is whether platforms should be allowed to offer returns or incentives for holding stablecoins, an issue that has become a key obstacle preventing the bill from reaching consensus for so long. Recently, some crypto companies, including Coinbase, have expressed reservations about the latest version of the bill, while stablecoin issuer Circle is also facing market pressure due to policy uncertainty. Analysts say that as midterm elections approach, the crypto industry is stepping up political lobbying efforts, trying to secure a more favorable policy environment in terms of regulatory direction.