Every major industry employs numerous lobbyists to represent their interests in (world) politics. The Chamber of Digital Commerce’s Political Action Committee (PAC) is an American lobby group that lobbies for the bitcoin industry.
As a relatively small industry, you cannot compete with the centuries-old lobby of banks, for example, but you can ask for attention in other ways. The political action committee donates $50 worth of bitcoin to each campaign fund for congressmen.
Crypto for Congress
Political Action Committees of this kind want, for example, to influence elections, legislation and other political matters.
According to the founder of the group Perianne Boring, this action is intended to raise awareness. It is also an opportunity for congressmen to get in touch with bitcoin revival review for the first time. Boring describes the campaign as ‚Crypto for Congress‘.
It is a fun action, but other lobby groups undoubtedly work with different budgets to influence politics.
The politicians can decide for themselves whether to accept the donation or donate to a good cause. The other option is to reject this free money.
The bitcoin that is given away has been mined by tech partners of the organisation. Core Scientific and Luxor take care of the ‚clean bitcoin‘.
For American politicians, it is not just a bit of free bitcoin. Members of Congress can also follow an online training course and download a toolkit to get started with bitcoin.
„One of the biggest problems we always have is that people really don’t understand what it is we’re talking about,“ says Boring.
Bitcoin and politics
She is convinced that initiatives of this kind help to get more politicians on bitcoin. And that is important, because strict rules are being made worldwide for the entire industry.
Think, for example, of taxes and the collection of data from people who buy bitcoin.
Only last week, there was some fierce news from America: BitMEX with $2 billion worth of bitcoin sued in cash by the watchdog US. Regulators and the Department of Justice started their fight against the derivatives exchange BitMEX. They do not comply with US rules and are now being prosecuted.