In a recent announcement, Steven Kinard, the director of Bitcoin mining analytics at the Texas Blockchain Council, has publicized his intention to run for a place in the Texas House of Representatives.
Steven Kinard, aims to secure the Republican Party nomination for Texas House District 70 in the Dallas-Fort Worth area, planning to strongly advocate for digital freedom and strategic technology investments. His successful appointment could set the stage for a face-off with incumbent Democratic Representative Mihaela Plesa.
From a contrary perspective, Kinard expresses severe concerns over the U.S. Federal Reserve’s attempts to introduce a central bank digital currency (CBDC). His campaign website reveals ambitions to resist and halt any progress pertaining to CBDC research. This stand is somewhat mirrored by prominent figures within his party, including Florida Governor and potential 2024 presidential candidate Ron DeSantis.
Texas has developed a noteworthy reputation for being a hub of cryptocurrency mining, especially after an influx of miners relocated there from China. However, the issue of regulating digital currencies remains politically contentious. Previous legislative sessions have seen bills aimed at curbing incentives for crypto miners pass the State Senate, while others have sought to enshrine the rights of crypto assets in the state’s constitutional framework. Texas Governor Greg Abbott has indicated his support for such practices.
As the upcoming 2024 elections loom, cryptocurrency and blockchain figure prominently among the issues concerning voters. As such, industry leaders such as Brian Armstrong, Coinbase CEO, are urging fans of cryptocurrency to elect representatives who will support the technology. With hundreds of U.S. congressional seats up for grabs, the role of crypto regulation within legislative agendas is very likely to feature in campaign debates.
This encapsulates the broader discussion around blockchain, and how it’s being utilized for more than just financial transactions. Government, industry leaders, and societal stakeholders are all part of the debate on how to treat and approach this innovative technology, revealing a landscape ripe with opportunities, challenges, and uncertainties.
Source: Cointelegraph
