Crypto Enthusiasts Rally in Detroit for America Loves Crypto Tour Stop

The America Loves Crypto Tour made a vibrant stop in Detroit at the Lager House, where both crypto enthusiasts and fans of Detroit rapper Big Sean gathered for a night of music and political mobilization. This marks the third stop on the tour, following previous events in Arizona and Nevada, as the Stand With Crypto Alliance looks to galvanize support ahead of the 2024 presidential election.

With Michigan recognized as a key battleground state, the Stand With Crypto Alliance sees its nearly 1 million bipartisan crypto owners, 25,000 of whom are alliance members, as a crucial voting bloc. In the closely contested 2020 election, the margin in Michigan was around 156,000 voters, making crypto supporters a potential swing force in 2024.

Speakers at the event included local startup founders, university blockchain clubs, and former State Representative Ryan Berman (R). Their message was clear: crypto voters have leverage, and their voices should be heard in shaping the future of digital assets and innovation in the U.S. “Digital asset owners and entrepreneurs have leverage, and it’s time to make their political voices heard,” Berman emphasized during his address.

On the same day, the Michigan Senate unanimously passed a proposal from Berman, updating the state’s Penal Code to include cryptocurrency under embezzlement laws. This bipartisan move aims to protect consumers while maintaining the integrity of digital currencies in the state.

Beyond Michigan, crypto innovation has been stymied by the U.S. Securities and Exchange Commission’s (SEC) inconsistent regulatory actions. Louis Velazquez, founder of MegaHoot Technologies, shared his concerns: “There has to be room for innovation and protection for the general public. Lack of regulation will just push blockchain-based projects to other countries, where they could and should innovate in the United States .”

The Stand With Crypto Alliance, a 501(c)(4) nonprofit, seeks to champion clear, common-sense regulations for the crypto industry, aiming to transform the 52 million U.S. crypto owners into a politically active force. The demographic is younger and more diverse than the general population, making it a crucial voter base as the nation looks ahead to the 2024 election.

As the America Loves Crypto Tour moves forward, the political influence of the crypto community could shape not only the outcome of elections but also the future regulatory landscape of digital currencies in the United States.

Thomas Lin
Digital Assets Desk