- Pennsylvania handed the Bitcoin Invoice of Rights, which clarified the foundations for cryptocurrencies.
- Coinbase CEO rekindles endorsement of Pennsylvania candidate McCormick.
- Armstrong urges crypto lovers to assist McCormick in Senate race towards Casey.
Coinbase CEO Brian Armstrong has publicly endorsed David McCormick, a Republican Senate candidate operating for a seat in Pennsylvania. Armstrong's robust endorsement of McCormick is according to the latest passage of Pennsylvania's Bitcoin Invoice of Rights. On October 23, the Pennsylvania Home of Representatives handed HB-2481, turning into the most recent state to make clear digital asset laws.
In an October 25 X publish, Armstrong said, “We are going to now elect Dave McCormick to the Senate to guard our rights on the federal degree.”
Pennsylvania's Bitcoin Invoice of Rights Strengthens Cryptocurrency Freedom
The Satoshi Motion Fund (SAF) has performed a key position in pushing for strong crypto regulation within the US, with the passage of the Bitcoin Invoice of Rights being their most up-to-date achievement. The invoice protects rights to self-governance and crypto-payments, exempts digital belongings from extra taxation, and enforces the fitting to function Bitcoin nodes.
It additionally ensures particular person freedoms to make use of bitcoins as cost and offers clear tips for taxes on bitcoin transactions. The invoice handed with overwhelming assist, receiving 176 votes to 26, highlighting bipartisan assist.
Additionally Learn: Ripple CEO Endorses John Deaton in Massachusetts Senate Race
Armstrong actively helps varied Republican Senate candidates, together with McCormick and pro-XRP legal professional John Deaton. Not too long ago, the CEO of Coinbase urged crypto lovers to vote for Deaton within the Massachusetts Senate election. Armstrong additionally criticized Senator Elizabeth Warren for her anti-crypto stance. On October 20, Armstrong confirmed his assist for McCormick, posting on X:
“If you happen to dwell in Pennsylvania, it is best to vote for David McCormick.” It’s a higher candidate for cryptocurrencies.”
Candidate comparability: McCormick vs. Casey
In response to Armstrong's endorsement of McCormick, MetaLawMan, a reasonably fashionable crypto voice on X, described the Pennsylvania race as “fascinating.” He pitted Republican candidate McCormick towards Democratic candidate Bob Casey. A lawyer and politician, Casey has held a number of political positions and has been Pennsylvania's senior senator since 2007.
However, McCormick, a businessman and politician, graduated from West Level and excelled at Ranger College. From 2020 to 2022, he additionally served as CEO of the hedge fund Bridgewater Associates.
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