Cryptocurrency gaining influence in presidential campaign

(NewsNation) — Cryptocurrency is a force to be reckoned with in the economy, and the presidential campaign, according to one leading crypto executive.

“There are millions and millions of Americans who’ve decided to opt in to the crypto economy,” said Faryar Shirzad, chief policy officer of the cryptocurrency exchange platform Coinbase.

“It’s just been a matter of time for politicians to realize what an opportunity there is to speak to these voters,” he told “The Hill on NewsNation.”

The crypto industry has more power than past campaigns, thanks to super PAC called Fairshake, which has raised more than $100 million. “Fairshake supports candidates committed to securing the United States as the home to innovators building the next generation of the internet,” its website says.

“Candidates are increasingly recognizing that they need to speak to this community, and we’re gratified by that,” Shirzad said.

Earlier this week, the Trump campaign said it would accept crypto currency donations. Trump supporters can donate using “any cryptocurrency accepted through the Coinbase Commerce product,” his campaign said in a press release.

Also this week, the House of Representatives passed a bill that would designate the Securities and Exchange Commission and the Commodity Futures Trading Commission to regulate difference forms of crypto currency, depending on the status of their blockchains.

The Biden administration opposes the bill but has not explicitly said the president would veto it. The measure heads to the Senate, where its fate is uncertain.