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Top 7 Politicians around the World Involved In Cryptocurrencies

Mar 17, 2018 Posted /  2353 Views

Top 7 Politicians around the World Involved In Cryptocurrencies

The rise of cryptocurrencies has taken the world by surprise. bitcoin, ethereum, and litecoin to name a few are three of the highest market capital digital coins whose value has skyrocketed recently.

The average age in the US Senate is 61. So these group of politicians fails to understand cryptocurrency's working and hence dislike, probably because they just don't understand it. At the World Economic Forum, top political figures expressed their distaste for the cryptocurrency. Some of them believed that this anonymous piece of technology was used for funding terrorist organizations or money laundering.

Despite such thinking patterns, some of the politicians are hopping on to these rapid growing platforms. Politicians around the world are embracing cryptocurrencies to fund their electoral campaigns after the FEC (Federal Election Commission) approved it in 2014.

1. Andrew Hemingway.

Being the youngest gubernatorial candidate, started this trend of accepting Bitcoins in 2014. He was also the first to accept Bitcoin contributions due to the increase in the demand.

2. Austin Peterson.

Following the steps of Andrew Hemingway, many other politicians joined the movement. One such politician was Austin Peterson from Missouri. His Senate Campaign received a whopping 24 Bitcoins ($4500) within one year of duration. According to Federal Election Commission, this was the largest contribution in the Federal Election history.

3. Patrick Nelson.

Patrick Nelson is s New York Democrat. Even he accepted Bitcoins through a service called Bitpay.

4. Kentucky Republican Rand Paul.

Kentucky Republican Senator Rand Paul said that the Crypto world could replace credit cards and expressed his excitement towards this tech. He also expressed his skepticism by saying that it must have a real value and calculating its value is very difficult as the cryptocurrencies are in an exponential bubble.

5. Steven Mnuchin.

Steven Mnuchin is the US Secretary of the Treasury. Once said that his number one focus on cryptocurrency is to make sure that they are not used for the illicit activities.

6. Theresa May.

Theresa May is the British Prime Minister. She emphasizes on cryptocurrency's usage and says that they track it very seriously, especially on the way they can be used by the criminals.

7. Christine Lagarde.

Christine Lagarde is the Director of International Monetary Fund, says that it's anonymity and hence lesser transparency conceals the way of money laundering, financing terrorism, dark trades which are totally unacceptable.

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Tags: Cryptocurrencies bitcoin

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