2021 was a huge year for the crypto industry. A few years ago, our elected officials probably hadn’t even heard of crypto before, let alone had an
2021 was a huge year for the crypto industry. A few years ago, our elected officials probably hadn’t even heard of crypto before, let alone had an opinion on it. However, this year it seemed like crypto was the hot topic on the block all around the globe.
Here is a list of the most outspoken crypto advocates and critics from the parliaments and white houses around the world.
Santa: Francis Suarez
First up for crypto Santa is Miami Mayor Francis Suarez. In August, the city launched MiamiCoin (MIA). Revenue generated from the token is used to fund community projects in the city, with Mayor Suarez saying in a November interview that each Miami resident with a digital wallet could soon be eligible to receive a Bitcoin (BTC) dividend from the yield of MiamiCoin.
The city of Miami mayor, @FrancisSuarez, proposed an official resolution that would make #Bitcoin an acceptable payment for various parts of the city’s administration. https://t.co/7lO8iaFHEO
— Cointelegraph (@Cointelegraph) February 12, 2021
In February, Suarez announced plans to enact the “most progressive crypto laws” in the United States. Fittingly, this year’s Bitcoin conference was held in Miami, attracting the largest crowd in the annual event’s history, cementing the city’s position as a growing hub for cryptocurrency.
Grinch: Narendra Modi
The first Grinch who stole crypto-mas is Indian Prime Minister Narendra Modi. On Nov. 18, he called on all democratic nations to work together to regulate cryptocurrency, specifically Bitcoin, to “ensure it does not end up in the wrong hands which can spoil our youth.” He also shared his concerns that if unregulated, crypto could become an avenue for “money laundering and terror financing.”
PM Narendra Modi called for united efforts to shape global norms for emerging technologies like social media and cryptocurrencies so that they are used to “empower democracy, not to undermine it”. #NarendraModi #Crypto #CryptoBill $ETH $SHIB pic.twitter.com/qz1Sl5wH9p
— AltCoiners : India Banega Crypto SuperPower (@alt_coiners) December 11, 2021
On Nov. 23, the Indian government introduced a bill to impose a ban on “all private cryptocurrencies,” prompting a massive sell-off in the country. Since then, the creator of the bill, former Finance Secretary Subhash Garg, has dismissed the notion of banning “private cryptocurrencies” as a misinterpretation.
Modi’s account was briefly hacked in mid-December with a tweet claiming that the country had officially adopted Bitcoin. The hackers’ tweet stated, “India has officially adopted Bitcoin as legal tender. The government has officially bought 500 BTC and is distributing them to all residents of the country. The future has come today!”
Santa: President Nayib Bukele
Of course, this list would be hardly complete without the one and only President of El Salvador, Nayib Bukele. In June, El Salvador passed President Bukele’s “Bitcoin Law,” which made BTC a legal tender in the country.
A slew of protests followed as citizens became concerned that their savings and pensions were at risk, but merchants still accept Bitcoin as payment, as per the law.
Since then, the Latin American country hasn’t slowed down on its crypto adoption with plans to build 200 ATMs and 50 branches capable of converting BTC into USD. The country has been slowly adding to its BTC reserve, and further plans to make a “Bitcoin City,” a full-scale municipal project with residential areas, shopping centers, restaurants and a port, all of which will be centered around Bitcoin adoption.
First steps…
#Bitcoin pic.twitter.com/duhHvmEnym
— Nayib Bukele (@nayibbukele) September 28, 2021
Grinch: Elizabeth Warren
Proving that cryptocurrency is indeed not a partisan issue, the next anti-crypto Grinch is Senator Elizabeth Warren. In a June session of the Senate Banking Committee, Warren described crypto as a “fourth rate alternative to real currency,” adding that it is a “lousy investment” because it has “no consumer protection.”
The anti-crypto rhetoric didn’t stop there, with the Massachusetts senator saying that it’s “worth considering” banning U.S. banks from holding the reserves to back private stablecoins in a September interview with the New York Times. She also infamously called the cryptocurrency industry the “new shadow bank.”
“Crypto puts the power in the hands of a shadowy, faceless group of super- coders and miners.” – @ewarren
You scared?
— Dylan LeClair (@DylanLeClair_) July 27, 2021
Only days later, she went after the Ethereum network in a Senate Committee Hearing with Gary Gensler. She said that “high unpredictable fees can make crypto trading really dangerous for people who aren’t rich.”
Santa: Andrew Bragg
Talking about pro-crypto politicians, it would be hard to miss Australian Liberal Senator for NSW Andrew Bragg. He has been an outspoken advocate for cryptocurrency and digital assets in Australia over the past year. As the…
cointelegraph.com