Why Crypto Lacks Political Power in Latin America

How Crypto Shapes Politics in Washington

On September 15, the US Senate voted 49 to 50 against debating the CLARITY Act. The industry had spent over a year negotiating this market structure bill. It needed 60 votes to move forward.

Not a single Democrat voted yes for the bill. The objections were mostly about who the crypto industry is linked with politically, rather than the bill's actual text.

What happened right after the vote showed how much power the US crypto industry has built.

Within days, a super PAC named Fairshake announced a major move. It plans to spend $30 million against Sherrod Brown's Senate campaign in Ohio.

If Brown wins, he could reclaim his seniority and become committee chair again. Fairshake is largely funded by major crypto players, including Coinbase, RippleXRP+2.57%, and Andreessen Horowitz.

Around the same time, Stand With Crypto stepped up its efforts. Coinbase launched this advocacy group back in 2023 to grade politicians on their crypto stances.

The group warned senators who voted against the bill. It stated they could face consequences at the polls on November 3.

Journalist Eleanor Terrett highlighted this strategy on September 21, 2026. She noted Fairshake is gearing up for its biggest spend of the year against Sherrod Brown following the bill's demise.

This is not the first time Fairshake targeted Brown. Back in 2024, the super PAC spent around $40 million to help defeat him.

American politicians quickly learned that crypto comes with serious financial backing. A Politico poll from this spring revealed that only 3% of Americans recognized Fairshake's name.

That low number proves an important point. The super PAC does not target average voters; it targets members of Congress who know its influence very well.

Argentina: High User Base, But Overshadowed by Scandal

Latin America does not have political crypto machines like Fairshake. However, money is not the main reason why.

Some time ago, industry insiders visited Argentina's Congress. They wanted to discuss a technical tax asymmetry with several senators and deputies.

Normally, advisors just take notes at technical meetings. But the lawmakers only wanted to talk about one thing: the LIBRA token.

President Javier Milei shared the LIBRA token on X in February 2025. Sadly, the token collapsed within just a few hours.

Later, on March 16, 2026, media outlet BeInCrypto reported on leaked files. The report suggested President Milei agreed to a $5 million deal to promote LIBRA.

When politicians look at crypto in Argentina, they see a scandal rather than potential voters. Yet, the voters are definitely there.

An industry report showed that 12.4% of Argentina's population used a crypto app monthly in 2025. That equals about one in eight Argentines, making it the highest adoption rate in the region.

A voting group that large would usually attract any politician. However, crypto users remain mostly invisible because the industry has not highlighted them effectively.

Brazil's Tight Election Highlights a Missed Chance

Brazil recently demonstrated how powerful organized crypto voters could potentially be.

On October 4, the first round of the presidential election took place. Flávio Bolsonaro led with 47.03% of the vote, while Luiz Inácio Lula da Silva got 45.16%.

The election went to a runoff on October 25. Lula da Silva won his fourth term with 51.8% of valid votes against Bolsonaro's 48.2%.

In such a close race decided by just a few percentage points, an organized group of voters can change the outcome.

Yet in Brazil, just like in Argentina, millions of daily crypto users have not united as a single voting block.

How Latin American Crypto Can Build Real Influence

Copying America's Fairshake model is neither possible nor smart for Latin America. Local campaign finance laws and political cultures are very different.

However, the region can still adapt two effective strategies from the US playbook:

• Track Lawmaker Votes: Industry groups should create public records showing how politicians vote and speak on digital assets, similar to Stand With Crypto.
• Show Local Impact: Crypto exchanges should share aggregated data with politicians. They can show how many constituents in a specific province rely on stablecoins or save in foreign currencies.

Walking into a senator's office with concrete data about their own voters changes everything.

The Latin American crypto industry spent years asking regulators for a seat at the table. While they got that seat, they now need to show lawmakers that crypto users are also active voters.