- ‘Stand With Crypto’ expands advocacy to Australia, UK, and Canada amid regulatory shifts.
- Campaign backed by $206.8M donations and 2.1M global advocates for crypto-friendly laws.
- U.S. stablecoin policy debate advances with the GENIUS Act excluding interest-bearing assets.
A new international campaign is urging citizens in Australia, the UK, and Canada to engage with lawmakers in support of pro-crypto legislation as rule-making continues to shift in those places.
The “Stand With Crypto” effort, backed by Coinbase CEO Brian Armstrong, is growing its reach beyond the United States at a time when digital asset policy remains unsettled in several markets.
Why is Australia a Key Target for the Crypto Advocacy Push Now?
In Australia, the campaign has launched a targeted call-to-action as the government moves closer to finalizing cryptocurrency regulations. Campaign organizers point to data showing 20% of Australians own digital assets, yet the exact path for regulation is still hazy.
The group says public backing is important if lawmakers are to put forward laws helpful to new crypto ideas. For this, the group has asked Australians to communicate directly with their elected officials.
Campaign visuals feature a shield marked with the Australian flag, symbolizing defense for the local crypto ecosystem.
Related: Crypto Advocacy Gains Traction: Ripple CEO Spotlights Pro-Crypto Voter Influence in U.S. Politics
Armstrong Calls Crypto Users “Voting Block” as Global Campaign Grows
According to data provided by campaign organizers, over $206.8 million in donations have been raised globally to support crypto policy efforts.
The agenda claims the backing of more than 2.1 million advocates worldwide and reports that over 727,000 contacts have been made with government officials globally.
Source: X Related: Senator Hagerty’s GENIUS Act Aims to Pass Stablecoin Bill in 100 Days
Coinbase CEO Brian Armstrong mentioned on the X social media platform that the campaign has reached UK, Australian, and Canadian users.
He referred to crypto users as a large “voting block” and suggested that organized efforts could help shape legislative outcomes in favor of blockchain innovation.
Meanwhile in the US: Focus Turns to Stablecoin Rules ‘Onchain Interest’
At the same time this campaign runs, Armstrong separately urged the U.S. to pass specific stablecoin laws allowing “onchain interest.”
This concept would let people earn yield on fiat-backed stablecoins through reserve assets such as short-term U.S. Treasuries. Armstrong argues that the current regulatory environment creates uncertainty for stablecoin issuers seeking to offer such benefits.
How Might US Bills Like the GENIUS Act Shape Stablecoins?
Also of note, the GENIUS Act, approved by the Senate Banking Committee (18-6 vote), has been updated to exclude interest-bearing assets from the definition of a “payment stablecoin.”
Representative Bryan Steil stated in a podcast interview that remaining points of difference between the GENIUS Act and the STABLE Act involve mainly wording choices, not core disagreements. It’s thought both bills will likely be made consistent through more drafting work soon in the House and Senate.
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