With the United States midterm elections making headlines around the globe, the crypto community has had reason to join in the celebratory frenzy as three new crypto-friendly governors have emerged; with two other past governors also maintaining their seat.
According to data made available by the Digital Asset Trade Association (DATA); a blockchain advocacy group which had sent surveys to most gubernatorial candidates in a bid to assess their blockchain-friendliness, results prove that three new and two incumbent governors are very crypto-friendly.
The new governors Jared Polis (Colorado), Gavin Newsom (California), Mark Gordon (Wyoming), Gina Raimondo (re-elected for Rhode Island) and Greg Abbott (re-elected for Texas).
Colarado’s newly elected Governor, Polis was a member of the Congressional Blockchain Caucus in the U.S. House of Representatives and has continually churned out support calling out the government to take initiative and fully adopt the space. Polis had also used his platform to propose adoption of blockchain technology for digitized and improved voter protection cum government records.
Polis advocates making Colarado a safe harbour for bitcoin companies. In his words:
Just as in Wyoming, I will work alongside the legislature to create a statewide safe harbour designed to exempt cryptocurrencies from state money transmission laws; I will work to establish legislation that protects ‘open blockchain tokens’. This move would attract innovative companies and allow them engage freely as issuers, exchanges, wallet providers – without multitude of licensing requirements, securities and currency laws . Colarado can pave the way into the future and be on the map for fostering new technology with the hope that the federal government can catch up to our progress.
He is also credited to have made great efforts as regards the Cryptocurrency Tax Fairness Act.
Similarly, elected Governor of California (U.S. Largest State), Gavin Newsom is considered to be ‘pro-bitcoin’ and is open to accept cryptocurrency campaign contributions. He has been welcoming with his support of blockchain technology while describing the tech as ‘fascinating’ as far back a 2014.
Newsom believes government should be ‘performance-based’ hence government-citizen relations cum services should be digitized, with blockchain technology a perfect fit for this system. Newsom is in favour of blockchain-friendly policies including a proposal to allow data stored on a blockchain as admissible evidence in court.
Newsom’s win means that one of United States influential statesman heading its most populated and largest technological state is a Bitcoin supporter.
Wyoming’s elected Governor, Mark Gordon could be said to be the most crypto and blockchain-friendly Governor on the list. First is he’s support for the exemption of crypto-related businesses from state sales tax on purchases and exemption from state money transmitter regulations.
Gordon is also opposed to the issuance of a state license for cryptocurrency transmission as obtainable in the restrictive New York BitLicense legislation.
Texas and Rhode Island
Re-elected Texas Governor, Greg Abott had previously accepted bitcoin donations for his election campaign. For Rhode Island’s Gina Raimondo, she supports all legally backed cryptocurrency practices and transactions especially the idea of using blockchain tech for public programs such as Medicaid, food stamps distribution.
For the American and global cryptocurrency/blockchain community, the emergence of these crypto-friendly Governors is a boost for positive legislation.