Bitcoin, Blockchain & Cryptocurrency News

bitcoin Bitcoin
ethereum Ethereum
ripple XRP
Show details
American Politics

U.S. Congress Candidate Discourages Bitcoin FUD and Aims to Educate Public

Reading Time: 2 minutes by on May 24, 2018 Bitcoin, Blockchain, Finance, News, Regulation, Tech

Cryptocurrencies have always been in the gray end of the regulation spectrum when discussed in American politics. Legal bodies often view them as a criminal tool to purchase guns, drugs, and other illegal articles. Regulatory authorities such as SEC are not sure whether to classify them as securities, while some states in the U.S. have proposed ideas to make the cryptocurrency holders pay tax on them.

Democrat Discourages Cryptocurrency “FUD”

However, Brian Forde, a Democrat from California running for the US House of Representatives, hasn’t been discouraged from all the mentioned uncertainty about cryptocurrency. In fact, he is reportedly accepting campaign donations in the form of bitcoin for the 2018 elections. Incidentally, Forde was also a senior advisor to the Obama Government on cryptocurrencies and other digital technologies.

Brian Forde

Brian Forde on bitcoin donations

(Source: Bloomberg)

Nevertheless, Dave Min, another Democrat candidate contesting for the same seat has singled out Forde’s affinity towards crypto and used it to his own advantage. This move might very well be the first time that a political advertisement in the U.S. has mentioned bitcoin in any capacity.

In the ad, it can be seen that Forde’s face is pasted over some footage of a cyber hacker, who is seen typing codes on the screen. A woman’s voice over cites “Brian Forde’s big donors” as “Bitcoin speculators that oppose cracking down on drug deals and human trafficking.”

Brian Forde, who has already raised about $ 100,000 in campaign donations via bitcoin, called the ad “reckless.” Forde said:

“These comments about my supporters are sensationalist, wildly inaccurate, and in line with my opponent’s lack of understanding of the technology.”

Blockchain’s Benefits Discussed

The democrat further added that his supporters are ardent believers in the pioneer cryptocurrency’s technology, as they did not “HODL” their bitcoins, instead used it for a cause.

Forde said that one of the primary reasons he is running for the seat is to remove the misunderstanding regarding the technology. He represents a growing force of technologists who aims to tackle the anti-science sentiment under the Trump administration.

Attacking the ad film made by Min, Forde said “While his ad disparages a technology he clearly doesn’t understand, the United Nations uses it to address human trafficking.”

Forde cites the United Nations (UN) led project in Moldova, which uses blockchain based IDs to curb sex trafficking.

Like BTCMANAGER? Send us a tip!
Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4
Join our telegram channel