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June 27, 2022
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Politicians and Bitcoin: what the representatives of nations say about cryptocurrencies –

The media write today that the topic of cryptocurrencies is to appear during the next G-7 summit. Importantly, Joe Biden himself, the current US president, is to speak on this matter. For the purposes of this article, we decided to take a look at how various well-known politicians talked about Bitcoin.

Politicians and Bitcoin

Politicians have been interested in Bitcoin for a long time. It is enough to recall that they financed their election campaigns with the use of cryptocurrency already in 2014, e.g. Swedish MP Mathias Sundin or American politicians: Governor Adrian Wylie, Congressmen Lucas Overby, Chris Holbrook, Greg Abbott and Steve Stockman. The latter even prepared a bill entitled “In the protection of cryptocurrencies.”

Sundin’s idea was so interesting that he decided to finance his activities during the campaign only with Bitcoin. Interestingly, he was successful in this field.

– At first I only saw negative headlines about Bitcon and I thought it was some kind of speculative balloon. Then I started reading about him and realized that he has the potential to change the world. Realized I could order a pizza and pay in BTC, then I was all for it – spoke in 2014

Texas governor Greg Abbott also spoke in a similar vein.

– Hello Bitcoin community! Texas law allows politicians to accept currencies or other assets as campaign grants. Since Bitcoin is not considered a currency by federal law, your donation will be considered a non-cash contribution. In order to comply with the law, we must enter you on the list of donors, therefore we need your personal data – he said a few years ago when he was seeking a congressman’s mandate.

Joe Biden also accepted BTC as a kind of donation to his campaign when he was fighting for the senatorial seat a few years ago.

On this occasion, it is worth recalling that the US regulations require candidates for congressmen to exchange Bitcoins for dollars within 3 days of receiving them.

Andrew Yang

The most famous politician from the USA who promoted blockchain and BTC is Andrew Yang. When he was applying for the nomination for the candidate for the presidency of the USA (his rival was, among others, Biden), he accepted BTC as a form of donation. In addition, he repeated that regulation of the blockchain market is necessary because it can strengthen the market of innovative startups in the US. He added then that the regulations in the US are now “patchwork” – each state has its own regulations, which makes it difficult for companies to develop and function efficiently.

A few years ago, he also said that it would be a good idea to pay cryptocurrency payments to government officials.

It is true that Yang lost the rivalry with Biden and did not represent the Democratic Party in the presidential election, but after the success of the current president, it was said that the young politician would join the new government in the White House. The president-elect was reportedly considering his candidacy as secretary of commerce. We know that ultimately nothing came of it.

Cynthia Lummis

Another crypto enthusiast is Cyntia Lummis, a Senator from Texas. In the April interview for MarketWatch noticed that the flagship cryptocurrency has already achieved great popularity.

We see how [BTC] enters the mainstream. You see people like Elon Musk, Tesla CEO, make big investments in Bitcoin. You saw Coinbase just go public today and it has a valuation that is simply stunning. And yes [BTC] becomes part of the mainstream because everyone, including [CEO Goldman Sachs] Dimon, who once criticized Bitcoin, are considering investing in Bitcoin. I think they finally understood why Bitcoin is a good, solid store of value – she said.

During the interview, she also provided investment advice.

– I’d tell the guy outside this building while cleaning the windows: buy it and then hold it – she said. – Who knows how many dollars will be printed before this gentleman retires? – she added.

Warren Davidson

Warren Davidson is an American politician and former military officer who has been a Congressman since 2016. He also speaks positively about BTC.

– At the end of the year (…) secretary Mnuchin spoke about a ban on private wallets – Davidson said during the Bitcoin 2021 conference in Miami, answering the question about the possibility of over-regulation of cryptocurrencies in the US. – It’s a horrible approach – added.

He added that “If we don’t protect private wallets, someone will try to ban them.”

He is also behind several bills that were to regulate the cryptocurrency market in the US.

Donald Trump

But let’s now look at the other side of the front. Donald Trump is not an advocate of cryptocurrencies. Recently, he referred to BTC as a “scam”. In an interview with Fox Business, the former president said alternative currencies such as Bitcoin, “They take the advantage and importance of the dollar.” Then he added that “Bitcoin just appears to be a scam.”

Trump has not been sympathetic to BTC before. He argued that cryptocurrencies are tools of criminals and terrorists. In turn, according to John Bolton, a former associate of the ex-president of the USA, he even thought about banning BTC. The official reportedly heard in person Trump telling Treasury Secretary Steven Mnuchin to take up the Bitcoin topic. The issue arose during the conversation that concerned trade sanctions and tariffs imposed on China. Everything happened in May 2018.

bitcoin politicians

Polish political scene

Polish politicians are also interested in cryptocurrencies. In 2016, the Polish Bitcoin Association organized a consultation on blockchain and digital currencies in the Sejm. The co-organizer of the meeting was the parliamentary office of Mirosław Suchoń (then Nowoczesna, today Poland 2050).

– This technology may soon revolutionize financial markets around the world. Creativity in this area helps to achieve a competitive advantage over other countries, which undoubtedly allows to dynamise economic growth and increase exports. All this results in an increase in the wealth of citizens, and hence an increase in the wealth of the entire state – said MP Suchoń during the debate.

Recently, Adrian Zandberg from the party Together was loud about statements about BTC. The politician believes that Bitcoin mining is dangerous to the environment.

The government report paints them in pastel colors: as a breakthrough technology that should be supported by the state. I do not share this optimism. So far, the usefulness of blockchain outside the financial market is questionable, and the side effects of the spread of cryptocurrencies are quite nasty

– wrote the leader Together.

We wrote more about it here.

Earlier, he did not like the fact that the government regulated some issues regarding cryptocurrencies under the Anti-Crisis Shield.

Deputy Przemysław Koperski from the Left is also interested in cryptocurrencies and CBDC. He has already written parliamentary questions to the Ministry of Finance on the regulation of the digital currency market and the issue of CBDC. His letter was also signed by other politicians from the Left: Katarzyna Ueberhan, Monika Falej, Jan Szopiński, Katarzyna Kretkowska, Małgorzata Prokop-Paczkowska, Karolina Pawliczak, Wanda Nowicka, Marcin Kulasek, Andrzej Szejna, Katarzyna Kotula, Anita Kucharska-Dziedzic and Joanna Senyszyn .

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