The President of the United States has decided to appoint Mick Mulvaney – a well-known Bitcoin advocate – as his new chief of staff. Trump made the move after John F. Kelly decided that it’s time to call it a day. Mulvaney is the head of the blockchain caucus and is making huge moves – along with other senators and White House officials – to regulate and make cryptos widely accepted throughout America.
No Need to Get Excited
Unfortunately, Mulvaney won’t be able to force any specific crypto-friendly bills through the senate and get them on Trump’s desk. However, as Trump’s right-hand man, he can slowly start to plant the seed of Bitcoin evangelism into the president’s mind and help it grow like a majestic flower. In the short term, Mulvaney’s appointment as the chief of staff won’t make any difference to the American crypto and blockchain industry. As time goes on however, his key position could influence others to join the blockchain caucus and strengthen its grip on the senate.
Pro-Crypto Candidates Winning Big in Midterm Elections
America recently held its midterm elections and there was great news for the crypto community. Several well-known pro-crypto candidates won seats in the senate as well as governorships. Jared Polis and Gavin Newsom both took huge portions of the votes in their states and won the governorship race of Colorado and California respectively. Since Polis won the race for the governor’s house only a month ago, Colorado has already issued more than 18 cease and desist orders to scam ICOs. This was done in a bid to clean up the state’s crypto industry in preparation for sweeping blockchain and crypto reforms.
Attorney General Backing Scam Projects
While Trump might be moving Bitcoin-friendly staff members into well-respected roles inside the White House and the US government, he needs to start doing more digging on people’s backgrounds. Matthew G. Whitaker – acting US Attorney General – has played a major part in the Bitcoin world already. He was a key financier of World Patent Marketing (WPM), which offered a theoretical time travel commodity tied to the price of Bitcoin. On top of this time traveling commodity, WPM also sold custom-made toilets for well-endowed men – all in Bitcoin of course. This has led many members of the Blockchain Caucus to call for his removal from office as soon as possible.
Trump has a deep-set fear over Bitcoin being controlled by the Chinese and has taken measures to cut China’s influence. The president imposed new import tariffs on Chinese crypto mining hardware and firms are already feeling the pinch. Bitmain – the largest manufacturer and miner of Bitcoin – is in the doldrums and looks more like collapsing with every passing day.
It appears as if Trump’s anti-China and Bitcoin stance appears to be working and if he can reduce the impact China has over Bitcoin, we could see the president come out in full support of the cryptocurrency. Don’t hold your breath though, this could be something we hear from Trump in his re-election campaign deep in 2019.