Cryptocurrency gained a small victory after two pro-cryptocurrency candidates won seats to become governors of the United States of California and Colorado in the country’s midterm gubernatorial elections.
This is according to news coming from TrustNodes.
In the California race, Democrat contender Gavin Newsom captured 59 percent of the electorate’s support to beat the Republican Party’s John Cox. According to local newspaper The Sacramento Bee, Newsom pushed crypto onto the party political scene back in 2014, when he became one of the first politicians to accept campaign donations in Bitcoin (BTC).
The newly-elected California governor counts crypto businessmen the Winklevoss twins as donors, who gave a collective total of $116,800 in 2017 for his campaign. While the twins reportedly contributed to Newsom’s campaign in fiat currency, the governor also kept a BitPay page where backers could make their donations in Bitcoin or Bitcoin Cash (BCH).
Over in Colorado, another Democrat, Jared Polis, defeated Republican competitor Walker Stapleton, with the former getting 51.6 percent of the vote against the latter’s 45 percent. Polis’ Bitpay campaign donation page accepted Bitcoin and Bitcoin Cash. His campaign website for the midterm elections held an entire page that spoke of his Blockchain Policy, citing five areas wherein he seeks to study the technology .
These include voter protection and augmenting cybersecurity infrastructure, blockchain-based solutions to bolster Colorado’s energy grid, and utilizing public ledgers so that there is more transparency when it comes to state contracts, expenditure, and other government bureaucracy.
Polis also showed his intent to institute regulatory sandboxes to urge blockchain companies to “flock to the state,” saying that the work that they do can generate “government applications that save taxpayers money and create value for Colorado residents.”
With this in mind, Polis vowed “to create a statewide safe harbor designed to exempt cryptocurrencies from state money transmissions laws.” He also bared plans to work to “establish legislation that protects ‘open blockchain tokens’ or cryptocurrencies that are exchangeable for goods and services,” from cumbersome licensing requirements that apply under extant securities and currency laws.
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