Morgan Harper, a former senior adviser to the Consumer Financial Protection Bureau, comes off as 'crypto-curious' in her race to be the Democratic candidate for one of the United States Senate seats from Ohio.
In a Tuesday Twitter thread, Harper said I was interested in the Bitcoin possibilities (BTC) and other cryptocurrencies could mean politics in Ohio. According to the Democratic candidate, Bitcoin can replace many functions of traditional banks by conveying "the wealth of the network" to all users rather than to a handful of large shareholders.
"There are crypto projects that want to compete with basically every facet of what a bank or a social media company does," Harper said. โIts basic model is more inclusive than that of a corporation. I've heard anecdotes and seen some statistics on how many young people and people of color use #bitcoin, which makes sense; historically, we have been excluded from traditional forms of investment. "
Harper, 38, added that he would be "in learning mode" in the crypto space and encouraged any of his roughly 24,000 followers to submit comments on how lawmakers could "keep bad actors away while encouraging innovation."
In officially announcing his candidacy for the United States Senate on August 18, Harper is running for the Democratic nomination against House Representative Tim Ryan, Cuyahoga Soil and Water Conservation District Treasurer Demar Sheffey and others. If elected to be the Democratic nominee and elected, she would serve with fellow Democrat Sherrod Brown, a candidate for reelection in 2024.
Harper could potentially replace Senator Rob Portman, who announced in January that he would not seek reelection because it is "increasingly difficult to break the partisan stalemate and advance substantive politics." During his time in office, Portman has been outspoken on certain laws proposing regulations on cryptocurrencies. In April, he suggested a bill to better define reporting cryptography for American taxpayers.
Related: House Passes $ 1T Infrastructure Bill With Crypto Tax For Biden Pass
In the recent infrastructure debate, Senator Portman initially supported an amendment tabled by colleagues which suggested removing the definition of brokers in the bill so that it no longer includes developers, transaction validators, and node operators. The infrastructure bill was approved by both the House of Representatives and the Senate without further clarification on crypto brokers and is currently awaiting approval from President Joe Biden.
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