Menu
As the 2024 presidential election approaches, several U.S. politicians are voicing their positions on Bitcoin (BTC). U.S. Senator Ted Cruz from Texas has emerged as a vocal supporter of Bitcoin and the broader crypto industry.
On August 12, Cruz spoke at an event organized by the Texas Blockchain Council (TBC) at a Core Scientific mining facility in Denton, Texas. Addressing a crowd of about 150 people, Cruz emphasized Texas’ pivotal role in Bitcoin mining and the need to protect the industry from federal regulations he views as detrimental.
“God bless Texas, and God bless Bitcoin,” Cruz declared. “I am incredibly bullish on Bitcoin and crypto. Texas is, and I want Texas even more so to be, the oasis for Bitcoin mining across the face of the globe.”
Lee Bratcher, President of TBC, announced the Council’s endorsement of Cruz in his reelection campaign, praising his support for financial innovation free from excessive government interference.
Cruz expressed concerns over federal regulatory threats to Bitcoin, specifically criticizing U.S. Senator Elizabeth Warren. Warren has pushed for strict regulations on stablecoins and introduced the Digital Asset Anti-Money Laundering Act (DAAMLA) in December 2022, aimed at curbing the use of crypto for illicit activities.
“Elizabeth Warren hates Bitcoin for the same reason communist China does – because she can’t control it,” Cruz stated.
Cruz also highlighted the stance of U.S. Securities and Exchange Commission Chair Gary Gensler, who has been skeptical of Bitcoin and has delayed the approval of spot Ether (ETH) ETFs.
Cruz underscored Texas’ favorable environment for Bitcoin mining and innovation, attributing it to the state’s pro-freedom stance. Texas currently hosts over 2,000 Bitcoin miners, the highest number in the U.S., contributing to significant economic growth.
Other states are also vying to attract crypto enthusiasts. Oklahoma recently passed a law granting citizens the right to self-custody and mine cryptocurrency at home, while Florida has been recognized as the “best state” for cryptocurrency taxes.
Cruz hopes Texas will continue to lead in crypto innovation, surpassing states like Florida.
#Top Tags COVID Covid-19 Technology Finance Investing Sustainability Economy
and receive a copy of The Crypto Cheat Sheet (PDF)
and NFT Cheat Sheet for free!
Comments are closed for this article!