Advancing Crypto on Capitol Hill and in Local Communities

By Josh Arnold & Tiffany Angulo of Targeted Victory

For over half a century the United States has been the best place for entrepreneurs to create, build, and grow businesses. Fueled by American exceptionalism, we established a financial system that enabled more capital creation and more startups to flourish than any other nation. As we look to establish rules of the road for digital assets, these experiences should inform how we create a long-lasting policy framework that fosters growth and stability, helping ensure the United States continues to be a leader now and in the future. Cryptocurrencies hold immense promise for Americans, enabling them to fulfill their financial goals with fewer intermediaries and gatekeepers. The United States must act now to unlock crypto’s full potential.

Crypto on Capitol Hill

Congress is deliberative and not known for moving with great speed when new industries or niche markets pop up. As two of the first staffers working on cryptocurrency, what we didn’t fully realize then was the amount of education needed to guide both staff and members through the most basic of terms and concepts surrounding cryptocurrency — all while also needing to spotlight the immense opportunities that lay ahead.

To begin that process, we created the bipartisan Financial Innovation Caucus in the Senate and the Congressional Blockchain Caucus in the House. Our first briefings for staff and members focused on the incredible strides in cryptocurrency and blockchain technology that have taken place in a relatively short time. We emphasized with caucus members how crypto is revolutionizing the way we pay for products, transact at lightning-fast speed with others, and ensure privacy. The overall impression we sought to leave was this: the development and advancement of crypto undoubtedly represents a major turning point in our society and a defining time for American leadership to shine on the global stage.

We need to communicate the promise of cryptocurrency and establish rules of the road that safeguards crypto as a catalyst for innovation, economic growth, and financial opportunity for all. The only way to change this reality is by taking a new approach, one focused on advocacy and education. Identifying stories and compelling narratives that demonstrate how the builders’ vision can be enjoyed by many.

Crypto’s Winning Playbook

Reputational and regulatory risks are greatest when people don’t understand your business model or what you are trying to accomplish. Many in the mainstream media remain skeptical of cryptocurrency, while centralized (and well-funded) competing interests continue to raise concerns about this new industry. Many fledgling ventures have learned the hard way what can happen if you don’t get out ahead of your challenges. As the crypto community continues to navigate its path in the policy and regulatory environment, here are some things they should consider:

· Crypto is not a red or blue issue but is a battle between those who have a growth mindset and a fixed mindset. We need to harness the power of those who are creating new products and services that enable more people to have financial autonomy.

· Engaging in Washington, DC is not enough. The industry needs a robust local communication effort to move the needle outside of Washington to educate and activate a broader community.

· It is time to build. The crypto community needs to go local — on the ground and online — to articulate how crypto is enabling new opportunities on Main Street, across a diverse number of communities.

Crypto represents a unique opportunity to mobilize an ideologically diverse set of advocate supporters in communities across the country, but that support must be built from the ground up. If policymakers hear from innovators and other trusted voices in their own communities, they will be much more likely to engage in this issue in a positive and constructive way.

The Path Forward

We can’t afford to miss the opportunity to lead on the advancement of cryptocurrency. If the US does not establish a policy framework that allows for innovators to still innovate, it will trigger oppressive regimes in China and Russia to establish the rules for which this new financial system will operate. If there’s one thing that Congress should focus on protecting, it is the absolute freedom and efficiency cryptocurrencies offer. This future will fundamentally transform the way we transact with family, friends, and businesses.

It’s not only here in the US where crypto can disrupt the global financial industry and open more opportunities for investment and advancement by those who have been pushed out of traditional banking systems. The hope that lies in cryptocurrency is truly an international one. We don’t have to leave people behind when it comes to financial gain — the hopeful mother in Afghanistan, the aspiring student in Africa, and the young entrepreneur looking for a way out of poverty in Vietnam can unleash their dreams because of the decentralized and secure nature of cryptocurrency.

We joined Targeted Victory because they are the first firm that understands the cryptocurrency industry and what is needed to take it to the next level in the United States. What we can bring to this critical moment in the debate over crypto is unique digital engagement products, a dedicated team of actual practitioners, and the tools to amplify the needs and activism of the crypto community.

Our team is a group of disrupters. We are unconventional doers with a drive for radical success. We will continue to grow our team to attract the best and the brightest from the House, Senate, and regulatory bodies, because we know that true change occurs when there’s a groundswell of outside voices, not a few insiders with power.

If you share this approach and want to join our effort, please let us know. Our cryptocurrency practice is open for business, and together we will lead a revolution.

About the authors: Josh Arnold is the former Deputy Chief of Staff to Senator Lummis (R-WY). Josh has been a leader in the crypto space and helped launch the Financial Innovation Caucus. Tiffany Angulo has a decade of policy experience in the House of Representatives and helped establish the Congressional Blockchain Caucus.