For a few months, a growing number of officials who hold important public positions in the United States have been demonstrating in favor of Bitcoin and cryptocurrencies.

We are talking about people who hold positions in Organizations such as the Securities and Exchange Commission, Congress and even the Federal Reserve.

This is a group of officials whose speeches have differed, in a scenario where opinions contrary to the cryptocurrency ecosystem. Far from the repeated argument that associates bitcoin only with illicit activities, these people have expressed a higher level of understanding about the importance that this new technology acquires in society.

Despite the fact that, in the media, there is talk of a kind of “bitcoinization” among the US authorities, this group still has to fight -from its sphere of influence- against the dominant beliefs in supervisory, regulatory and legislative bodies.

However, even though the number of people in positions of authority who speak out in favor of the pioneer cryptocurrency is still small, the fact is go optimistically into the ecosystem. The fact that more and more officials openly declare that they have knowledge and are in favor of creating new laws to favorably regulate technological innovation, generates expectations of greater adoption.

Some of these officials who hold positions in governmental and legislative bodies have believed in bitcoin for a long time. Others have been joining recently, perhaps influenced by the new wave of investors and companies now supporting bitcoin.

Next, We review what at least six US officials have done and said who are in favor of the ecosystem.

Gary Gensler, bitcoin professor nominated to head SEC

Gary Gensler, recently nominated as a candidate to head the United States Securities and Exchange Commission (SEC), is Senior Lecturer on Bitcoin, Cryptocurrencies, and Blockchains at the Massachusetts Institute of Technology (MIT). The confirmation hearing so that the Senate ratifies it and can assume the position is scheduled for this March 2.

The executive, who was president of the Commission for Futures Trading on Merchandise (CFTC) during the Barack Obama administration, he teaches classes on economics and management at MIT’s Sloan School of Business. He is also an advisor to the Media Laboratory’s initiative on cryptocurrencies and conducts research on bitcoin and its impact on finances.

According to the information published in this medium, the academic highlights the innovation they represent cryptocurrencies, as they function without a single central authority.

In his teachings Gesler defines Bitcoin as money , highlighting the following in one of his courses:

Satoshi Nakamoto’s white paper ‘Bitcoin, a peer-to-peer electronic cash system ‘and associated blockchain technology, will be studied in the context of the long history of money and ledgers.

If ratified in office, many hope that Gensler will lead the way to set a more conciliatory tone between the regulatory entity and the companies that make life in the bitcoiner ecosystem.

The bitcoiner Sunayna Tuteja at the Federal Reserve

From Monday February 22, Sunayna Tuteja, a bitcoiner with extensive experience in the field of cryptocurrencies , is the new Head of Innovation at the United States Federal Reserve (Fed).

As disclosed in CriptoNoticias, Tuteja has been a confessed Bitcoiner for years, as revealed by his tweets. Sunayna recommends this industry as “an inspiring source of multidisciplinary learning.”

Since I first heard about this esoteric thing called Bitcoin in 2012, the most wonderful aspect for me has been the wide world it has opened to me, giving me the opportunity to connect with people, ideas and places that had not been crossed my path in another way.

Sunayna Tuteja

Now, the official will have the responsibility of «leading the efforts to identify, research, enable and promote new technologies, while promoting a culture of innovation, collaboration and experimentation. ”

The also new vice president of the Fed’s national information technology team has worked since 2008 in various positions at the financial instruments broker TD Ameritrade . There promoted an optimistic turn towards the cryptocurrency sector.

In her new position, the official “will collaborate with business and technology leaders to formulate an agenda that advances technology research and leverages the innovation work already underway at the Fed ”, probably referring to research on central bank digital currencies currently underway.

Cynthia Lummis, a hodler on the Senate Banking Committee

Cynthia Lummis, United States Senator for the state of Wyoming and hodler of bitcoin, since this February is part of the Senate Banking Committee .

In a statement released on February 4, Lummis pointed out that it will be responsible for implementing legislation for bitcoin and other cryptocurrencies.

I look forward to (…) working alongside federal regulators to ensure that regulation for digital assets is structured to encourage innovation, instead of stifling it.

Cynthia Lummis.

During an interview on national television, Lummis contrasted the mechanisms of issuance of Bitcoin and the dollar ar. For her, cryptocurrency is ahead of fiat money by having a limited supply, while the money issued by the Federal Reserve (Fed) is inflationary.

Among her first appearances as a member of the Senate, Cynthia Lummis was pledged to make the Bitcoin debate visible at the national level. Recently in a podcast with Anthony Pompliano, a bitcoin investor, the senator revealed that she is planning to create a Financial Innovation Caucus.

The The project will be focused on educating US legislators about the cryptocurrency market, debunking narratives that these assets are only used for money laundering.

Hester Peirce: SEC Commissioner and crypto mom

Affectionately known in the ecosystem as the « crypto mom »Due to her favorable position to cryptocurrencies, Hester Peirce acts as Securities and Exchange Commissioner of the United States since 2018. In 2020 it was confirmed by the Senate for a second term until 2025.

Peirce has won over investors in the ecosystem for its support of financial innovation, mainly by testimony that he offered on July 21 of last year before the Senate. There he made clear his intentions to establish a regulatory framework for cryptocurrencies:

(…) In addition to continuing my work to strengthen the regulatory framework, I will redouble my efforts to create a more welcoming environment for innovation and new entrants. If the Commission takes that challenge seriously and swiftly, our capital markets will continue to be dynamic, vibrant and pre-eminent.

Hester Peirce

Recently Peirce assured that the country is ready (and people eager) to launch a Bitcoin exchange-traded product (ETP). Peirce’s statements, which open the possibility of SEC approval for the ETP issuance, contrast with the regulator’s recurring rejection attitude to requests for approval of Bitcoin Exchange Traded Funds (ETFs).

Mayor Francis Suárez wants Miami to be a center of innovation

Another pro Bitcoin American politician is the alca Miami Leader Francis Suárez. In late January he stood out as one of those who uploaded the Bitcoin whitepaper to the city’s website, following the threat of a lawsuit from the self-proclaimed Satoshi Nakamoto, Craig Wright .

The mayor’s plan is to turn Miami into a kind of “Silicon Valley” for cryptocurrency companies.

The city believes in Bitcoin and works day and night to turn Miami into a crypto innovation center. Proud to say that Miami is the first municipal government to host the Satoshi White Paper on a government site.

Francis Suárez.

At the beginning of the year, Suárez proposed some of the treasury reserves of this Florida city in BTC and said that it is working to allow payments for the city’s services in cryptocurrency.

Due to Suárez’s effort, the authorities seem interested in knowing more about the cryptocurrency ecosystem , a job that could lead to future adoptions or regulations. According to national sources, the mayor would be interested in accepting bitcoin for the payment of taxes or fees associated with permits.

Patrick McHenry, Republican congressman for bitcoin

Patrick McHenry has been a member of the United States House of Representatives since 2005 and a Republican leader of the Committee on Financial Services of the House for Congresses 116 and 117.

The congressional representative from North Carolina was one of those who in 2019 questioned his fellow legislators when did not understand what Libra was about of Facebook (now Diem) or cryptocurrencies.

Although in previous years the congressman joined with his Democratic colleagues to oppose any competition with the US dollar, his opinion has changed in recent times.

“At the state level, we have seen several different types of adoption of blockchain and cryptocurrencies. I think eventually bitcoin will leak out until the legislators understand it better in Washington , “he said in an interview with the Bitcoin Association this week.

Al Like the mayor of Miami, McHenry recently published the white paper of Bitcoin on the Congress web server.

“The world that Satoshi Nakamoto envisioned and that others are building is an unstoppable force,” he said during a Financial Services Committee hearing in July 2019.

He highlighted the need to promote education on the changes that are needed in regulations and laws “so that we can have a greater adoption of this technology here in the United States.”

The post The number of US officials who are in favor of bitcoin grows appeared first on World Weekly News.