Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Three new governors with pro-Bitcoin and pro- blockchain stand take the governor seat while two others with similar views retain them.
With the results of the U.S. mid-term elections coming out, it is getting that lawmakers with a crypto-friendly viewpoint are occupying governor positions. Blockchain advocacy group Digital Asset Trade Association (DATA) has compiled a which shows three new governors and two incumbent ones to have a crypto-friendly nature.
To name a few, the new governors include Gavin Newsom (of California) and Jared Polis (of Colorado). Both these governors have openly voiced their support for new technological innovations like the blockchain and cryptocurrencies. Newsom believes that
“Government information and services at every level should be thoroughly ‘digitized,’ enabling citizens to conduct business with public agencies online.”
Gavin Newsom who now chairs the governor seat in California has been a pro-Bitcoin lawmaker. Back in 2014, Newsom also showed his willingness to accept BTC donations for his campaigns. He said:
“I should promote the technology ever so subtly by saying I’ll accept bitcoin in the campaign. I’m ready for it.But how the hell do I explain it to anybody?”
For the past many years, California has remained the home for new technological advancements. Moreover, the state is also free from over restrictive laws. As a result, it has seen several FinTech companies taking birth here.
Colorado Gets a New Crypto-Friendly Governor
Jared Polis, the newly appointed governor of Colorado is also a pro-bitcoin & pro-blockchain lawmaker. Polis has also served as the member of the Congressional Blockchain Caucus in the U.S. House of Representatives. Polis is the first U.S. representative ever to accept Bitcoin for campaign contributions. Moreover, he has urged to put the U.S. in the leadership role in integrating and regulating the crypto space.
Polis has also proposed using the blockchain technology in a number of government initiatives. It includes improving the digital voter protections as well as digitizing government records while making them more transparent. Below are the views of Polis on cryptocurrencies and blockchain.
“Similar to Wyoming, I will work alongside the legislature to create a statewide safe harbor designed to exempt cryptocurrencies from state money transmissions laws, and I will work to establish legislation that protects “open blockchain tokens” or cryptocurrencies that are exchangeable for goods and services. These moves could allow our state to attract innovative companies and allow them to engage freely in them – as issuers, exchanges, wallet providers – without the licensing requirements of the multitude of securities and currency laws. Colorado can pave the way into the future and implement safeguards here at home with the hope that the federal government can catch up to our progress. These ideas, while bold, will put Colorado on the map for fostering new technology and experimenting with the best way to implement safeguards here at home and across the nation.”
Similar Scenario in Wyoming, Rhode Island and Texas
Mark Gordan won the governor position in Wyoming, which is already an increasingly blockchain-friendly state. Also, Gordon is well-known for his pro-blockchain stand in the past. Hence it is quite apparent that Wyoming has got the governor it deserved. DATA report shows that Gordon has also proposed exempting crypto businesses from state money transmitter regulations.
The DATA research also shows that Texas governor Greg Abott and Rhode Island governor Gina Raimondo has held pro-crypto views in the past. Governor Abott has previously accepted Bitcoin donations. Similarly, Governor Raimondo supports to legally recognize crypto-related business transactions.