Tuesday, December 5, 2023

Legislators in the United States have invested in cryptocurrency and digital asset politics

The United States of America has one of the most tumultuous regulatory landscapes with respect to cryptocurrencies. The SEC, or securities and exchange commission, has been one of the most pertinent anti-crypto forces in the country. At the same time, several senators have voiced their anti-crypto sentiments over the years. Only a few senators have publicly spoken about cryptocurrencies and their belief in this system of economy. On a whole, American lawmakers have shown anti-crypto tendencies on a large scale. That raises the question of how many of these lawmakers are crypto investors themselves. While approximately 20% of all Americans own cryptocurrency, the percentage among politicians is much more skewed. According to the project Bitcoin Politicians, only 7 congress members across both chambers have known investments in crypto or other digital assets.

Politicians and heads of institutions have long been against crypto. The most apparent reason would be the weakening of centralized power that is in the very DNA of the cryptocurrency ecosystem. As things stand now, only seven politicians from hundreds of US congress members own crypto. They are Michael McCaul, Barry Moore, Marie Newman, Jefferson Van Drew, Michael Waltz, Cynthia Lummis, and Pat Toomey.

Another scenario haunts politicians who have an interest in crypto and many believe that the real number of crypto investors is much higher. Openly acknowledging digital asset investments can label politicians as vocal supporters of the system, which their respective political parties might not abide by. in 2022, this phenomenon can change drastically and institutions on a global scale become more crypto-friendly.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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