More and More Congress Members Using Cryptocurrencies for Campaigns

Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.
  • All members of the U.S. Congress will receive $50 worth of Bitcoin as a campaign contribution
  • According to PAC’ initiative, it is aimed for the Congressional candidates to learn about the use and adoption of digital assets
  • Crypto for Congress initiative has been supported by co-chairperson and member of Congressional Blockchain Caucus

To raise awareness among the elected members of the U.S. Congress, the blockchain advocacy group Chamber of Commerce’s Political Action Committee (PAC), took the first step by contributing $50 worth Bitcoin to the campaign of re-elected members, under the initiative “Crypto for Congress”.

The “Crypto for Congress” initiative by PAC

All members of the U.S. Congress will receive $50 worth of Bitcoin as a campaign contribution. As there are 535 members in Congress, whereas in the U.S. The Senate has 100 members and 435 members are house representatives, and The Chamber of Digital Commerce Political Action Committee will provide the contribution to all 535 members. This initiative has also received support from the Congressional Blockchain Caucus, including Darren Soto and Tom Emmer. The organization is also providing, online public educational toolkits, that can help the members of Congress to directly get engaged with the cryptocurrency ecosystem. 

Actual aim of the initiative

According to PAC’ initiative, it is aimed for the Congressional candidates to learn about the use and adoption of digital assets. As per Perianne Boring, the founder and president of the Chamber of Digital Commerce, the biggest challenge of the industry was always that, many don’t know about what the heck is this ecosystem. 

Additionally, she mentioned other countries, and how they are rapidly embracing blockchain technology and vigorously planning to become global leaders in this industry, whereas the U.S. is descending down with technological aspects, which is a risk the country should not take.

Perianne also stated that, letting the members to interact with cryptocurrencies via this initiative, will provide advocacy to this industry.

Supports and sponsors of the initiative

The Crypto for Congress initiative has been supported by co-chairperson and member of Congressional Blockchain Caucus, Darren Soto and Tom Emmer. The initiative also gained sponsorships from Paxos, Messari, Civic, Etoro, Anchorage, Bitpay, Blockfi, Circle, CMT Digital, Flipside Crypto, and Medici Ventures. Tom stated that this initiative has brought an opportunity for the Congressional community to shift generation in finance and tech. 

How the organisation will bring Bitcoin to contribute

The Bitcoin to be contributed among the members of the U.S. Congress has been mined by U.S. based companies, Core Scientific, the leader in infrastructure and software solutions for blockchain, and Luxor Technologies, which is building infrastructure for the next generation of digital assets. As per Boring, the organisation is gathering clean Bitcoins that was mined in those companies.

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