Huizenga backed by millions in crypto and bank spending

Cryptocurrency companies have a stake in who writes their rules in Washington.

US Rep. Bill Huizenga, who represents Michigan’s 4th Congressional District, helps write them. And the industry is spending to help keep him there.

The Republican congressman from West Michigan is poised to benefit from more than $1 million in crypto-industry spending in his reelection race against Democratic state Sen. Sean McCann in the Nov. 3 election, according to an Oct. 22 report from POLITICO. Banking interests are separately spending more than $1 million to help him.

Huizenga is vice chairman of the House Financial Services Committee, which oversees both industries. Last year, he celebrated helping advance two major cryptocurrency bills through the House.

For Michigan voters, the stakes extend beyond campaign advertising. Cryptocurrency-related fraud is costing residents millions. Data centers raise questions about who pays for electricity and water infrastructure. And companies’ collection of personal information creates privacy concerns that lawmakers can address—or leave unresolved.

Here’s what the records show.

Who is funding Huizenga’s campaign?

POLITICO identified Huizenga as one of several lawmakers benefiting from overlapping spending by cryptocurrency and banking interests. All seven lawmakers receiving support from both industries sit on congressional committees overseeing financial policy. Topping the list of beneficiaries are Huizenga, Republican Sen. Pete Ricketts of Nebraska, and Democratic Rep. Janelle Bynum of Oregon.