U.S. Congressman Tom Emmer has decided to accept cryptocurrency to fund his re-election. This announcement comes as concerns grow regarding the U.S. dollar. Representative Emmer has been critical of the Federal Reserve’s stimulus policies.
As co-chair of the Congressional Blockchain Caucus, Emmer has been a friend to the blockchain world. He has expressed worry over the Fed’s unchecked currency printing. He also holds fears about other short-term solutions to bigger economic problems—which Emmer feels could come from digital currencies like Bitcoin.
Crypto For Congress
Last month, the congressman wrote a letter to the IRS regarding the classification of proof of stake assets. He and other Blockchain Caucus members urged the regulator to tread carefully, also underlining issues of both digital liberty and fiscal health.
The Minnesotan has now decided to accept cryptocurrency. He is planning to process his crypto donations with BitPay. The process is easy to do on his website.
The announcement came during a cryptocurrency town hall on Thursday. The “First Crypto Town Hall” had been announced last week through a partnership with the Chamber of Digital Commerce PAC.
‘It’s About Including More People’
In a somewhat uncommon move, Rep. Emmer has made clear his dedication to blockchain technology. He fears that the U.S. could lag behind other countries. On his website, Rep. Emmer writes:
I constantly advocate for increased education and introduce legislation in Congress regarding new technological innovations and our need for light-touch regulations so that development and investment flourish in the United States.
Interestingly, Mr. Emmer is not the first congressperson to accept crypto donations. Senator Rand Paul (R-KY), Representative Eric Swalwell (D-CA), and most notably Andrew Yang have accepted cryptocurrency for their respective presidential run.
Unlike most other politicians, Yang had been supportive of crypto in times when many others weren’t, although he cut his presidential run short back in February of this year.
The purpose of Emmer’s announcement was not to get more donations. According to the Chamber of Digital Commerce president Perianne Boring, this move was more about engagement.
“It’s about including more people in the political process, especially young people who prefer to leverage advanced technologies,” Boring told reporters.
Some industry leaders such as Circle CEO Jeremy Allaire and Ripple CEO Brad Garlinghouse also attended the town hall. The event was streamed online.
Contributions to Emmer’s campaign can be made in BTC, BCH, GUSD, or USDC.
Politicians are important allies to crypto, especially when considering that blockchain technology continues to have a small voice in U.S. politics.