Crypto:
32277
Bitcoin:
$97.486
% 3.13
BTC Dominance:
%58.9
% 0.11
Market Cap:
$3.07 T
% 2.13
Fear & Greed:
83 / 100
Bitcoin:
$ 97.486
BTC Dominance:
% 58.9
Market Cap:
$3.07 T

Vitalik Buterin Criticizes Crypto-Focused Political Support

Vitalik Buterin

Vitalik Buterin, co-founder of Ethereum, wrote a blog post opposing political alliances based on which side supports cryptocurrencies.

Buterin noted that legislative initiatives in the United States, including the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Markets in Crypto-Assets Regulation (MiCA) in the European Union, have inspired people in the crypto industry to become more politically involved. But these initiatives contradict the crypto ethos.

“There is a growing push inside the crypto space to become more politically active and favor political parties and candidates almost entirely on whether or not they are willing to be lenient and friendly to ‘crypto,'” Buterin wrote in a July 17 blog post, adding that “making decisions in this way carries a high risk of going against the values that brought you into the crypto space in the first degree.”

Even if the politician also supports legislative efforts that limit the crypto ecosystem more generally, Buterin insists that merely selecting candidates who claim to be pro-crypto helps “create an incentive gradient where politicians come to understand that all they need to get your support is to support ‘crypto.'”

“All that politicians have to do is make sure you can trade coins easily,” Buterin advised.

Unlike Buterin, billionaire Mark Cuban believes that in the US presidential contest this year, crypto will play a deciding role. He even goes so far as to claim that Joe Biden, the Democratic nominee and present president, would lose his re-election candidacy because of his crypto policy.

I have said many times that Biden has to choose between Gensler or crypto voters, or it could cost him the White House,” Cuban remarked on June 10.

READ:  Vitalik Buterin Introduces Efficient Zero-Knowledge Proof System

Cubans also pointed out that many voters will pick their candidate depending on their cryptographic attitude. “Crypto is a mainstay with younger and independent voters,” stated Cubans early in May. “Virtual voters will be heard this election.”

 

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