MoonPay, a leading crypto payments infrastructure firm, has donated $1 million to Stand With Crypto, a non-profit advocacy group initiated by Coinbase. This organization aims to support bipartisan, crypto-friendly politicians in Congress and promote clearer crypto regulation in the United States.

MoonPay CEO Ivan Soto-Wright emphasized the importance of standing alongside organizations that advance innovation and supporting elected officials who will create a purpose-built regulatory framework for the industry. This donation marks a significant step in the crypto community's efforts to shape its future in the US.

Coinbase launched Stand With Crypto in August 2023, and the group recently unveiled its political action committee (PAC) on May 10, 2024. As the 2024 election approaches, crypto is becoming a key issue, with American entrepreneur Mark Cuban noting its significance among younger and independent voters. Cuban even suggested that crypto regulation could impact the presidential election outcome.

Interestingly, Donald Trump, the former US president and current Republican presidential candidate, has announced his acceptance of cryptocurrency campaign donations. Moreover, memecoins centered around both Biden and Trump saw a surge in early May. As crypto continues to grow in influence, MoonPay's donation to Stand With Crypto demonstrates the industry's commitment to shaping its future and promoting innovation.