Hard-Money Talks! Bitcoin Dominates Corporate Election Contributions Surpassing Oil And Banking Sectors!
According to a recent report by the non-profit watchdog group Public Citizen, the Bitcoin industry has contributed around $119 million to various political campaigns.
Some candidates are finding it advantageous to take Bitcoin-sympathetic positions, while others are facing an onslaught of Bitcoin spending that is reshaping their primaries.
Some have run the gauntlet by simply saying yes to the Bitcoin agenda. State Rep. Jasmine Crockett, running in a Texas district to replace Rep. Eddie Bernice Johnson, had no history as either an outspoken advocate for Bitcoin or an opponent of regulation but facing the question in the campaign, she sided with the policy positions favored by Bitcoin PACs.
Opposition to Bitcoin risks an onslaught from the industry, and support of Bitcoin invites a tsunami of supportive spending.
Yet the reverse is not true: Opposition to Bitcoin is not rewarded by any organized constituency, and support of Bitcoin is not punished by any organized constituency. That type of asymmetry has long shaped niche policy debates in Washington.
* Super PAC Focuses On Unseating Sen. Warren, Spends $850K On John Deaton Who Has 82% Net Worth In Bitcoin
Support for Deaton is not universal across the Bitcoin industry. Wyoming Senator Cynthia Lummis, a Bitcoin holder and digital asset proponent in Congress, endorsed Republican Ian Cain over Deaton in July. The Republican senator cited Cain’s understanding of the “digital economy” and his embrace of innovation.
During Sen. Warren's time in office, the Massachusetts senator has openly criticized Bitcoin for any association with illicit activities, including money laundering and drug trafficking.
She introduced the Digital Asset Anti-Money Laundering Act, a bill “to require the Financial Crimes Enforcement Network to issue guidance on digital assets,” but support for the legislation seems to have declined in Congress as Bitcoin becomes more of an issue in an election year.
* Super PAC Spends $70K On Bitcoin-Focused Senate Race As Primary Looms
Remainder Of The Article: Ultimate Resource For Pro-Crypto Lobbying And Non-Profit Organizations: https://dpl-surveillance-equipment.com/bitcoin-and-crypto-currency/ultimate-resource-for-pro-crypto-lobbying-and-non-profit-organizations/
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