Crypto supporters unite in Pennsylvania ahead of the elections
Former Congressman Patrick Murphy echoed Toomey’s views, stressing the significance of Bitcoin and crypto, and the responsibility of Pennsylvanians as voters to safeguard it.
Folino’s rallying cry is one that Australian crypto proponents can identify with. Though the political climate in Australia differs, the necessity for education and advocacy transcends borders. Folino, who routinely informs Pennsylvania lawmakers about Bitcoin and digital currencies, noted that many state politicians are becoming increasingly receptive to the technology. This is an encouraging sign, but it’s evident that more efforts are needed, both in the US and globally, to ensure the flourishing of crypto.
Featured speakers included former US Senator Pat Toomey (R), former Congressman Patrick Murphy (D), Kara Calvert, Head of US Policy at Coinbase, Dominic Folino, President of the Pennsylvania Blockchain Coalition, David Johnson, General Counsel at The Giving Block, Cody Eddings, co-founder of Snap Refund, and Sam Weinrott, co-founder of PizzaDAO. The event was headlined by electronic pop sensation Lauv.
“My former colleagues have struggled to pass legislation, and an aggressive Securities and Exchange Commission (SEC) is casting a pall over various aspects of crypto development,” Toomey remarked.
The central message of the night was evident: with 1.4 million crypto owners, Pennsylvanians have a crucial role to contribute if they aim to steer the country towards a more crypto-friendly stance. Pennsylvania, one of the seven pivotal states likely to influence the outcome of the US Presidential election in November, possesses 19 electoral votes. Given that the number of crypto owners in the state is 18 times the vote margin between President Biden and former President Trump in the 2020 election, it’s vital for pro-crypto Pennsylvanians to make their voices heard at the polls, a theme underscored by the speakers.
“There are indeed some members of Congress from both parties supportive of fostering a thriving crypto environment, while others are quite antagonistic. My recommendation: some of the adversaries should lose their elections,” Toomey added.
Calvert’s insights remind us that the crypto community is not simply a niche group of tech aficionados. It comprises an expanding, involved, and politically aware demographic. In Australia, where crypto adoption is similarly on the rise, this is an essential aspect to acknowledge. As this community becomes more knowledgeable, the pressure on regulators for clear, equitable, and forward-looking regulations will continue to escalate.
“The essence of crypto is that we don’t have to depend on a government or a central bank,” Murphy said, highlighting the technology’s ability to empower individuals to shape their own futures.
After the presentations from the former politicians, the discussion turned to the urgent need for clear regulations in the crypto domain. A panel composed of founders and policy experts took the floor, each expressing their frustrations with the current crypto regulatory environment in the US. David Johnson, General Counsel at The Giving Block, initiated the dialogue by pointing out the hurdles faced by crypto companies striving for compliance.
Founders and policy experts advocate for regulatory transparency
On a brisk fall evening in Philadelphia, PA, more than just crypto supporters came together to express their backing for Bitcoin and digital currencies at the fifth stop of the America Loves Crypto tour. A vibrant assembly of about 200 attendees, evenly divided between genders, filled the chic venue, Vinyl, located in the city center. The increasing size and fervor of the audiences on this tour imply that the crypto voter bloc could impact significant races in the upcoming US elections this November.
“Meeting compliance standards in crypto currently in the US is exceedingly challenging because, despite the desire to adhere to the rules, what those rules are isn’t always apparent,” Johnson stated.
Murphy further emphasized the necessity of voting out anti-crypto politicians, asserting that Pennsylvania’s 19 electoral votes bestow the state with a vital influence in the upcoming elections.
Source: bitcoinmagazine.com
“Regulatory hurdles, politicians, and one Senator we all recognize are major reasons why we’re not advancing,” Folino remarked, likely alluding to Senator Elizabeth Warren, known for her critique of the crypto sector. “Everyone needs to go out and vote; it’s vital to continue educating those around us.”
For Australian readers, this serves as a crucial takeaway. The crypto community is not solely about technology—it encompasses individuals who are passionate, informed, and prepared to take initiative. Whether it involves participating in elections or campaigning for enhanced regulations, the crypto community holds the potential to become a formidable force for transformation, both in the US and globally.
Calvert also observed that attendees were not only well-informed about crypto but were also committed voters, a vital element in advocating for regulatory change.
“It’s a highly knowledgeable audience,” said Calvert. “I anticipated more people coming just for the entertainment, but what I found were individuals who genuinely care about crypto.”
He stressed that the US has the capability and talent to excel in the crypto sector, yet regulatory ambiguity is pushing innovators abroad.
Kara Calvert, Head of US Policy at Coinbase, also contributed to the conversation, pointing out that the crypto community’s sophistication is rising, along with the demand for clear regulations. She expressed positive surprise at the depth of knowledge and engagement she witnessed at the America Loves Crypto tour events.
“In Detroit, I posed the question, ‘How many people are aware of where their polling station is?’ and I was astonished by how many hands were raised,” she recounted. “It’s not just their sophistication as crypto owners, but their awareness as voters.”
He indicated that the absence of unequivocal guidelines is not merely a minor hurdle—it’s a serious impediment that’s driving innovation out of the country. For Australian crypto enthusiasts, this may strike a chord. Regulatory ambiguity is a global concern, and while Australia is making progress in crypto regulation, the US remains a critical battlefield. Johnson’s remarks resonate with anyone who has attempted to navigate the convoluted landscape of crypto compliance, regardless of their location.
Dominic Folino, President of the Pennsylvania Blockchain Coalition, echoed Johnson’s concerns, but didn’t shy away from pinpointing the underlying issue. He identified political hurdles as a significant barrier to the crypto industry’s growth in the US.
