When it comes to Mulvaney, we're not questioning if he'll try to influence government decisions when it comes to cryptocurrency - he's proven he will.
He was the first member of Congress to accept Bitcoin donations. As a congressman he founded the bipartisan Blockchain Caucus with Jared Polis, a Colorado Democrat. He then co-authored house bills 1108 and 7002, which urged officials to take a reasonable regulatory approach to the cryptocurrency markets, and make smart contracts legally binding equal to a signature on paper.
“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.”
He's also blasted the Federal Reserve's power to manipulate the dollar, saying the Fed has “effectively devalued the dollar” but Bitcoin on the other hand is “not manipulatable by any government.”
Other pro-cryptocurrency people with the ear of the President include paypay co-founder Peter Thiel who is said he hold up to $20 million worth of cryptocurrency and is officially one of Trump's advisers, and Coinbase Chief Technology Officer Balaji Srinivasanm who once was a Trump candidate for head of the FDA.
So what does it mean? While it's possible, it's too speculative to think their influence could lead to some kind of major pro-cryptocurrency move by the US government.
But what is safe to assume is if any drastic anti-cryptocurrency moves are proposed - these people are in a position to prevent it from getting the President's signature.
Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM
San Francisco News Desk
