On Friday, Grant McCarty, the director of politics and public affairs at Bitcoin Magazine, announced the launch of three policy efforts aimed at strengthening bitcoin’s public policy at the Bitcoin 22 conference in Miami. McCarty revealed the Bitcoin Advocacy Project (BAP), the Bitcoin Policy Institute (BPI) and an independent spending-only policy committee called the Financial Freedom PAC.
3 Newly Launched Political Efforts Aim to ‘Bring an Orange Wave Through Washington’
A new bitcoin-themed Super PAC has been launched to help “select bitcoin champions.” According to the Financial Freedom PAC a website presented by Grant McCarty of Bitcoin Magazine, the new Super PAC supports “candidates who aim to defend and uphold the following rights of bitcoin owners in the United States.” In recent times, bureaucrats have revealed a number of regulatory policies to digital currencies and many fear that strict cryptocurrency regulation may stifle technological innovation.
Basically, Super PAC is an independent political committee that solicits grants to strengthen independent political action and help frame public policy. While Super PACs cannot donate directly to political candidates, the PAC can spend unlimited amounts of money to either fight political candidates and legislation or advocate for specific bureaucrats.
La Financial Freedom PAC explains that it supports four political candidates including the Ohio Republican Senate candidate, Josh Mandel, the California Democrat House candidate, Aarika Rhodes, the Ohio Democrat House candidate, Matthew Diemer, and Arizona Republican Senate candidate, Blake Masters. Corporations, unions, associations and individuals can donate to the Financial Freedom PAC but they cannot donate in US dollars. The organization’s website states: “Fiat donations are not currently working. This is a feature, not a bug. Please donate bitcoin. “
The bitcoin-centric Super PAC website adds:
The battle for bitcoin in the United States will be a marathon, not a sprint. True to the ethos of bitcoin, this organization will operate with a low-end preference, focusing entirely on high-impact spending. And naming our balance sheet in bitcoin, whatever we don’t spend, gives us more purchasing power in future elections. This is the first political organization whose power will rise with bitcoin.
Voting for Anti-Bitcoin Politicians
In addition to the bitcoin-centric Super PAC, McCarty also revealed the Bitcoin Advocacy Project (BAP), and the Bitcoin Policy Institute (BPI). BAP launched “Nakamoto Grant”, and awarded it to the BPI because the institute published a white paper on “Bitcoin and national security. ” The main goal for the BAP organization is to “create an orange wave through Washington.”
“In addition, BAP has supported the creation, development and funding of the Financial Freedom PAC – the first Bitcoin Super PAC that aims to elect Bitcoin champions and vote against anti-Bitcoin politicians like Brad Sherman and Elizabeth Warren,” McCarty said Friday. “BAP has pledged $ 100,000 to launch the Financial Freedom PAC and has secured another half a million dollars in oral commitments since the organization was registered.”
What do you think of the new Super PAC dedicated to supporting bitcoin placement and a positive public policy? Let us know what you think about this topic in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or support of any products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is liable, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.