The Chamber of Digital Commerce or CDC in short says that it intends to form a political action committee or PAC which will help further the interests of the Bitcoin industry in Washington, DC. As the part of the initiative the government affairs office, led by Bitcoin advocate Perianne Boring filed with the Federal Election Commission this month to create its committee.
The lobbying is going to the next level as the Bitcoin industry is expanding and the stakeholders realize that it’s important to shower lawmakers and party committees with donations. The Chamber of Digital Commerce, a month-old trade group for digital currencies and assets will act like any other lobbying group in Washington DC.
For the purpose it has registered itself as a political spending group with the Federal Election Commission. Though the group is still in its infancy and has no immediate plans to support individual candidates, CEO Perianne Boring believes that the formation of PAC is an indication that Bitcoin industry is maturing and willing to take bold steps.
There are already some Congressmen who support Bitcoin and even accept them in donation from their supporters; however, the decision to form a PAC to catapult funds to get policy support from the candidates and political parties is taking Bitcoin activism to the next level. As it happens a lot in the US, political lobbying may work well for Bitcoin.
Will be the Authoritative Representative of the Bitcoin Industry
Politicians could face political pressure to support virtual currencies once the PAC for Bitcoin lobbying starts working and fine tunes with the existing political power brokers. The PAC is expected to enable the CDC to provide campaign donations to political candidates that support digital currency and help them enter to Congress.
Despite the fact that the formation of a group is at a nascent stage, the goal is clear for them as they are all aimed to influence a growing part of the US political process. The aim to serve as a prominent and sometimes controversial, role in local, state and national US elections, the PAC is definitely going to act as a catalyst.
The founders believe that the body will be the authoritative representative for the industry and willing to work with public policy makers as well as the larger public. Their work started earlier this month when they responded to the regulators in New York, who have proposed rules on the currency and called the norms too tough for the digital currency.
To contact the reporter of this story: Deepak Tiwari at email@example.com