An industry provocateur Antonio Garcia Martinez said:
“You don’t realize it, but we’re in a race between technology and politics, and technologists are winning. They’re way ahead.”
How far is he right? Should politicians be aware of all innovations emerging, thus making up their mind if to implement them or no, or it is enough to stick to traditional rules, diverting ventures and avoiding possible “bubbles”?
As hundreds of thousands of people worldwide now use cryptocurrencies, it’s starting to make its way into American elections with more and more people concerned about the future of US financial and economic system.
The famous blockchain and cryptocurrency advocate Andrew Yang, who also wants to participate in the 2020 U.S presidential election, could win all votes from the crypto community in the nation. Andrew has now officially declared his plans to create healthy and effective regulations on cryptocurrencies. He claims that
“It’s time for the federal government to create clear guidelines as to how cryptocurrencies/digital asset markets will be treated and regulated”
Apart from that, Yang’s campaign has been the first accepting Bitcoin, Ethereum, and other cryptocurrency-based donations.
Will it be a push for other candidates to catch up with Yang ? Let’s dig in.
In his 2013–2014 campaign Cory Booker, U.S. senator from New Jersey and Democratic candidate for president, claimed that
“The world is changing and a hyper-connected, interdependent world economy and new technologies have empowered people and organizations.”
Having close ties to the technology industry and even sponsoring greater regulation on tech companies , Booker still has not revealed his thoughts on bitcoin.
While Tulsi Gabbard has not revealed her formal position as for cryptocurrency, in 2018 she made the headlines reporting holdings of Ethereum (ETH) and Litecoin (LTC). Though the currencies she bought at ATH plummeted shortly after, her statement was quite optimistic.
“In Hawaii and across America, local and state leaders are looking at the potential for blockchain technology to create and expand economic opportunity,” Gabbard said.
Though Kirsten Gillibrand, a representative from a conservative New York district, has not revealed her attitude to bitcoin, she formalized her entry into the campaign with the statement:
“We need a leader who makes big, bold, brave choices. Someone who isn’t afraid of progress”.
Will she be the one?
Senator Kamala Harris is one of the candidates who has not shared her opinion on BTC with the public.
Minnesota Senator Amy Klobuchar asked a question about the ability of law enforcement to track laundering cases tied to cryptocurrencies during a 2017 congressional hearing. John Cassara, the former U.S. Treasury special agent, answered:
“I’m just glad I had my career when I did because I don’t know what I’d do trying to follow the money when it comes to digital currencies, it’s extremely, extremely challenging”.
Though Amy Klobuchar said almost nothing on the matter, crypto-community hopes that she will be impartial to crypto regulations.
Although Vermont Senator Bernie Sanders has not mentioned Bitcoin, Tone Vays (the head of research at BraveNewCoin) believes that a President Sanders would be “amazing” for BTC
“ with his borderline communist views on taxes, Bitcoin will thrive as a way of protecting your money from the extortionists and should become the conduit to transferring wealth cross borders.”
Massachusetts Senator Elizabeth Warren is highly critical of cryptocurrencies, calling them “easy to steal,” and worried “about consumers getting hurt.” She has been particularly skeptical of ICO, which she said are often used to scam ordinary investors.
“The challenge is how to nurture productive aspects of crypto with protecting consumers,” she noted last October.
President Trump has not shared his thoughts on cryptocurrency. However, there are several current and former pro-bitcoin members in his administration. Notably, Trump was the first president to sign an executive order explicitly mentioning cryptocurrency. It prohibited U.S. citizens from steering clear of the oil-backed currency, Petro (created by Venezuela), to prop up the Maduro regime. He authorized Treasury Secretary Steven Mnuchin to issue any necessary regulations to enforce the order. Even though he seems to be quite neutral, it may be a good sign that the government treats cryptocurrency seriously.
John McAfee, whose slogan is “Don’t Vote McAfee” makes his “major focus of the 2020 campaign on cryptocurrency”, adding that,
“we believe that cryptocurrency offers a unique historical opportunity to the individual — a chance to liberate one’s self, without violence, and to become more free.”
On his web-site, he writes:
“don’t ask me about immigration, foreign relations, education, etc. I have no idea. Those claiming that they do, are lying to themselves, or if not, they are purposely lying to you. We must first be free. Freedom for The People is my only goal.”
Being not a fan of bitcoin, Howard Schultz, believes in blockchain, saying that
“I believe that we are heading into a new age, in which blockchain technology is going to provide a significant level of a digital currency that is going to have a consumer application.”
He suggests that digital assets could play an essential role in a cashless future.
Though most of the candidates have not revealed their attitude to cryptocurrency, yet we have three of them being for and the one against. It is a clear sign that we are moving forward letting blockchain take its place in the society.
So, who will be the next crypto-commander-in-chief?