Mick Mulvaney, former acting White House Chief of Staff under Donald Trump, discussed the growing influence of the crypto industry on American politics during an interview on NewsNation. He asserted that crypto blurs the lines between traditional Democrat and Republican political affiliations, as it appeals to both sides of the aisle. Mulvaney noted the industry's shift from informal lobbying efforts—such as citizens writing letters in their basements—to establishing professional lobbying operations in Washington, D.C. He suggested that the political landscape may need to adapt as lawmakers engage with this evolving industry. As the 2024 election approaches, candidates such as Trump and Democratic Vice President Kamala Harris are reportedly considering support for crypto initiatives. Political Action Committees (PACs) advocating for pro-crypto candidates have already invested millions in election campaigns, aiming to sway voter opinion in crucial states. Mulvaney remarked that the impact of crypto in upcoming elections will be interesting to observe, given the increasing financial influence of interest groups on congressional candidates.

Source 🔗