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Bitcoin Political Advocacy Groups unveiled at Bitcoin 2022

The Bitcoin Advocacy Project today announced the formation of two new pro-Bitcoin political advocacy groups: the Bitcoin Policy Institute and the Financial Freedom PAC. These organisations will band together to try to influence legislation, regulation, and political campaigns in the United States.

The Bitcoin Advocacy Project, a 501(c)(4) nonprofit organisation dedicated to promoting Bitcoin acceptance in the United States, has granted seed financing to two new political organisations that will help it achieve its goals. The first is the Bitcoin Policy Institute, a 501(c)(3) nonprofit think tank, and the second is the Financial Freedom PAC, a Federal Election Commission-registered political action committee that will promote pro-Bitcoin political candidates in upcoming elections.
Grant McCarty, co-founder of the Bitcoin Policy Institute and director of policy and public relations at Bitcoin Magazine, made the statement. He clarified that the programme is only concerned with Bitcoin and not with other cryptocurrencies.
A political action committee, or PAC, is a 527 organisation that receives campaign contributions from its members and distributes them to candidates who favour or oppose them. Senators Elizabeth Warren (D-MA) and Brad Sherman (D-CA) have made repeated claims about the threats that cryptocurrencies pose to the legacy financial system, as well as comments about the utility of cryptocurrencies in facilitating illicit behaviour, according to McCartney.

Read more: Bitstop plans to showcase an NFT dispensing ATM at Miami’s Bitcoin 2022

Kunal Krishan
Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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