The U.S. Congressman Tom Emmer has decided to accept cryptocurrency to fund his re-election campaign. As co-chair of the Congressional Blockchain Caucus, Emmer has been a friend to the blockchain world. He has expressed worry over the Fed’s unchecked currency printing. He also fears other short-term solutions to bigger economic problems, which Emmer feels could come from digital currencies like Bitcoin. Only a few other politicians have considered funding election campaigns by accepting crypto.
The U.S. Congressman plans to process crypto donations with BitPay.
The U.S. Congressman Tom Emmer, who recently wrote a letter to the IRS regarding the classification of proof of stake assets, will now accept crypto donations. Emmer and other Blockchain Caucus members urged the regulator to tread carefully, also underlining digital liberty and fiscal health issues. The Minnesotan has now decided to accept cryptocurrency donations and is now planning to process his those donations with BitPay. The process is explained on his website. Tom Emmer made the announcement during a cryptocurrency town hall on Thursday. The “First Crypto Town Hall” had been announced last week through a partnership with the Chamber of Digital Commerce PAC.
Tom Emmer believes bitcoin will get stronger post-pandemic.
The U.S. Congressman Tom Emmer, a known crypto advocate, believes the leading crypto bitcoin’s main advantage over the dollar, the digital dollar, and even Facebook’s Libra is its decentralization. In an interview with Morgan Creek CEO Anthony Pompliano, he argued that all the other alternatives mentioned have someone in control while bitcoin is decentralized.
The congressman believes that bitcoin will get only stronger after the pandemic is over. Tome Emmer believes that bitcoin will follow the path of least resistance when it comes to regulation. He further noted that the bill they are working on that would not require crypto companies to have a money transmitting license in every state in the country.