The cryptocurrency space is trying to make friends on Capitol Hills, and its chances have grown stronger as another congressional candidate looks at Bitcoin as a campaign financing tool.
Just as US regulators are leading the global squeeze on cryptocurrencies, congressional candidate Michael Allman from California is looking at digital assets as a means of financing his political campaign.
If he wins a seat on Capitol Hill with the help of virtual money, Allman will likely be very friendly to the new asset class and blockchain technology in general. He could propose legislation for its advancement with reasonable and sound regulations.
On his official campaign page, Allman is encouraging his supporters to donate Bitcoin to his campaign. The page even provides details on how people can send their crypto contributions.
Allman, a resident of North San Diego, claims to be an “experienced businessman with a distinguished career spanning technology, energy, and international businesses.” His platform calls for embracing the principles of Direct Democracy, which advocates holding elected officials accountable for their actions.
He describes Digital Democracy as empowering his constituents to use a blockchain-secured platform through an online voting system. At the same time, the candidate vows to “vote with the people issue-by-issue.”
He said in a press statement:
“Accepting bitcoin is a no-brainer. It’s simply another way to realize the benefits of new technology, and I’m an advocate of staying ahead of the curve versus behind it .”
However, Allman is not the first candidate in the US to be accepting Bitcoin to bankroll a political campaign. In his 2016 presidential bid, Rand Paul accepted cryptocurrencies, while Republican Austin Petersen did the same for his Senate bid in Missouri.
Big crypto investors back Brian Forde for Congress run
The cryptocurrency space has been trying to make friends in Congress.
High-profile crypto investors such as the Winklevoss brothers, Pete Briger, and Mike Novogratz have thrown their support behind the congressional run of Democratic candidate Brian Forde, a 37-year-old coder who is pitted against Republican Allman in the same district.
Forde’s congressional bid is also important because it is seen as playing a major role in establishing whether the Democrats or the Republicans get the upper hand in the November mid-term elections for House representatives.
Forde’s background in tech and business makes him an expert in the digital currency space. He has served as MIT’s Media Lab director of cryptocurrency and as technical adviser to former President Barack Obama.
A win by either Allman or Forde should provide a friendlier environment for cryptocurrencies in the US Congress.
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