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Crypto Proponents Summons Barriers For Silicon Valley Congresswoman

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Crypto Proponents
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  • Greg Tanaka, a DeFi developer and an entrepreneur, who desires to make cryptocurrency a legal tender.
  • With respect to policy, Greg Tanaka sees himself as a regulator for virtual age and possibly most pro crypto individual in the race of this election cycle.
  • He is a part of Palo Alto City Counsel, and has established his eyes on US House of Representative seat for California’s 16th, a district in Silicon Valley.

Cryptocurrency Tax Holidays and Legit DAOs

In an interview with a news website, Tanaka debted regarding crypto. He began with saying it is genuinely better money. More perks go to the persons generating values versus conventional finance.

He sees a future where all entities will have their own token, which will be a lot helpful in creation of economic equity.

Tanaka distinguishes cryptocurrency as an early tech and requires an opportunity. He stated that he desires to make cryptocurrency a legal tender and offering DAOs — an improved version of organizations — the similar rights as C Corps or LLCs.

From Municipal Service To Congress Bid

Tanaka has been on Palo Alto City Counsel since 2017. There, he frequently has remained the sole vote against extreme staff raises,” as per his website. He succeeded from a neighborhood association’s president back in 2006 to Palo Alto’s Planning and Transportation Commission before getting elected to city Counsel.

Tanaka stated he is an advocate of detachment of state and money, taking pains to highlight the allusion to nation’s founding fathers’ detachment of state and church.

Before cryptocurrency, the state had to command the supply of money to create the currency and avoid counterfeiting. With cryptocurrency, however, all of that is organized automatically in software.

Regarding energy consumption by cryptocurrency, he stated the power utilize in association of crypto has to be compared to fiat currency, factoring in the power usage by by fiat system to secure, print and mint fiat money supply with armored trucks for mobilization, police, bank vaults, secret service for counterfeiting and more. In this light, he believes energy consumption of crypto is modest.

The District’s Scenario

Tanaka is not the only district nominee to take pro crypto slant, but he is undoubtedly the most ardent. He is endorsed by Andrew Yang, Bobby Lee, Charlie Lee, among others.

Tanaka is among 7 nominees standing against Anna Eshoo, a Democrat, in a nonpartisan primary election.

As per a data by campaign contributions tracing website, Tanaka campaign has piled up $1,303,776, of which 33.35% of funds were PAC contributions.

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