Miami Mayor Francis Suarez wants to make Miami a “Bitcoin City,” where employees are paid in Bitcoin and taxes are paid in Bitcoin. Meanwhile, New York City Mayor Eric Adams announced that he converted his first paycheck into Bitcoin and Ethereum. Senator Ted Cruz of Texas has promoted bitcoin on multiple occasions, touting it as a solution to his state’s power outages.
Bryan Solstin, a software developer, U.S. patent agent, and aerospace propulsion engineer, is one of the newest entrants to the American political arena with a pro-B
Image Source: CNBC
Bitcoin policy platform and he aims to add another to his resume: Senator for the state of Washington in the United States of America. Solstin launched his campaign in the Washington State Democratic Primary and his main goal, making Bitcoin legal tender in the United States, in a viral tweet on Tuesday. “I am declaring my candidacy for the United States Senate.” My main goal on the Senate floor will be to make #Bitcoin legal tender in the United States. The Great Reset is #Bitcoin.”
As many sitting senators are pro-Bitcoin, Solstin does more than advocate friendly policies toward Bitcoin. He outlines 22 use-cases for Bitcoin that are more like a wishlist. He wants to follow El Salvador’s example, which made Bitcoin legal tender last year. Motherboard reports that he also wants no capital gains tax on Bitcoin with no maximum limit.
“El Salvador went all out when it came to making Bitcoin legal tender. They will be rewarded for their efforts. “Those who adopt Bitcoin early will be rewarded,” Solstin said in an email interview. “However, the United States is a larger country. The United States will have to take baby steps, with legal tender being the logical next step.”
Lightning Network, Bitcoin’s second layer solution, speeds up transactions – making them almost instantaneous – and significantly reduces fees since the Bitcoin network itself isn’t really practical for everyday stuff anymore, with transactions costing about $1.5 and a ten-minute processing time.
Capital gains taxes accrue wherever Bitcoin is sold, even if it’s for a cup of coffee, so removing taxation rules for smaller transactions has been on advocates’ wish lists for years.
Solstin is a socially-progressive candidate who welcomes LGBT rights and is pro-choice on abortion issues, unlike many other pro-Bitcoin activists on the political right, according to his campaign website.
“Bitcoin, or solid monetary concepts,” he told Motherboard, “are neither Democratic nor Republican. Bitcoin also does not discriminate on the basis of race, color, country origin, sex, or religion.” Bitcoin is profoundly inclusive, unlike political fiat, which is controlled by the powerful”.
Also read: Yoon Suk-yeol promises a major push for cryptocurrency
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