Mick Mulvaney, a well-known bitcoin supporter, has just become Donald Trump’s new chief of staff. As some news outlets are saying, it is beneficial for the cryptocurrency community that a supporter has the controversial President’s ear.
Mick Mulvaney is a crypto supporter and fan. When he was working at the House of Representatives, Mulvaney, who is a South Carolina Republican, was one of the people who worked towards creating the Blockchain Caucus, which is a group of lawmakers that write and create new laws for emerging technologies such as cryptocurrency.
Mulvaney helped the Blockchain Caucus draft two new legislative acts that support the growth and evolution of the blockchain industry. These were House Resolution 1108, which aims to increase research in blockchain technology and demonstrate to Congress the sensible regulatory approach to the new technology. House Resolution 7002 was a proposal to amend the E-SIGN Act that was to “confirm the applicability of blockchain to electronic records, electronic signatures and smart contracts.”
At the time of starting the Blockchain Caucus, Mulvaney said, “Blockchain technology has the potential to revolutionize the financial services industry, the U.S. economy and the delivery of government services, and I am proud to be involved with this initiative.”
Although Donald Trump is rightly criticised for some of his decisions, he seems quite open to the potential of blockchain tech — perhaps he will be even more enthusiastic with Mulvaney at his side.