With countries around the world opening up to Bitcoin adoption, many governments are now seeking political alliances in their pursuits. The German alliance government has now mentioned cryptocurrency in their coalition agreement, stating that regulations should not be a hindrance to the growth of crypto firms. Furthermore, most governments are now deliberating crypto regulations and seeking political support in both pro and anti-crypto lobbies. In Germany, three parties will form a coalition government starting this December. The political leaning of these parties reveals a deeper picture of the state of crypto in the world. Two of the parties in the coalition are left-leaning – Social Democrats (SDP), and the Green Party. While the third party – Free Democrats – is right-leaning. While crypto is widely represented as anti-establishment, it has not found unanimous support among left-leaning parties.
The problem with political affiliations is that they are too watertight to hold the true nature of human societies. Any government would have both rights and left-leaning policies in some fields. The problem becomes acute when pro-crypto lobbies try to make the issue a political affair, making it suited to either left or right agendas. However, while crypto poses a threat to the centralized principles of right-leaning governments, it is also not compliant with left-leaning ideologies. For instance, personal ownership is a debatable issue in left politics, and cryptocurrency proclaims to be the torchbearer of personal ownership. Germany’s example shows that political parties can make a crypto conducive environment by coming together despite ideological differences.