The crypto industry is one step closer to landing a new potential ally in Congress after Maryland Democrat Glenn Ivey won a congressional primary on Tuesday night.
Ivey defeated former Rep. Donna Edwards in a crowded primary in the state’s 4th Congressional District. Ivey was a state attorney for Prince George’s County and previously worked on Capitol Hill. The winner of the primary is likely to win the November general election in the deep-blue district.
Although the primary did not hinge on crypto regulation, Ivey dedicated a piece of his campaign platform to digital asset regulation. He cautioned against over-regulation of crypto, saying “this innovation should not be stifled before it has a chance to mature and add value to the U.S. economy.”
“I will work closely with industry experts and other leaders to make sure that regulation is thoughtful and even-handed,” Ivey wrote on his campaign website.
Web3 Forward, a super PAC that supports crypto candidates and is funded by industry executives, reported spending $109,000 to boost Ivey’s primary campaign. He also nabbed a pre-primary endorsement from Rep. Maxine Waters, who chairs the House Committee on Financial Services.
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