In the United States, the legal status of cryptocurrencies varies state to state and person to person whether it is a government representative or any influential personality. After Rep. Andrew Yang’sacceptance on Bitcoin, the country is witnessing second 2020 strong candidate in a bid for US presidency, Rep. Eric Michael Swalwell Jr.
The American politician who is serving as the U.S. Representative for California’s 15th congressional district since 2013, made an announcement through a video which the blockchain firm named ‘The White Company” uploaded on their website in his support.
Swalwell, a member of democratic party also serves on the House Permanent Select Committee on Intelligence and the House Judiciary Committee. He expressed his concerns over serving the people and said that he would accept cryptocurrencies and supporting bitcoin, ether, bitcoin cash, stellar, bitcoin SV, and The White Company’s native token White standard (WSD). He also praised blockchain technology and relayed that if let it, the revolutionary tech has the potential change the world. He further brought up the point of online existence of public life and focused on raising the bar while bringing the tech in the democracy and the economy for future progression. He believes in the right to vote expression and adoption of cryptocurrency.
Letter to IRS and Support for Cryptocurrency
The member of Congress has been seen engaged in several events and undertakings while supporting cryptocurrencies. On April 11, 2019, the group of 20 lawmakers including Eric Swalwell signed a letter to the Internal Revenue Service (IRS) in quest of more transparency, simplicity, and basic reporting requirements on cryptocurrency tax rules.
Swalwell is accepting the donations with the aid of “The White Company” that is responsibly facilitating with its blockchain based technology platform and supporting the use of cryptocurrency and to connect the world of global payments and financial transactions in seconds with no fees. The establishment is also providing the tech to Swalwell in accepting the crypto donations in the U.S. election bid and its respective donation campaigns.
Reportedly, The White Company is using a stellar-based stablecoin which would allow Swalwell to own immediate access of funds in 3 seconds.
The Swalwell’s crypto donations page proposes a very simple format to send the donation. Swalwell’s supporters for making the transactions are required to fill the few details i.e., name, phone number, address, along with occupation and employer.
As per the information through The White Company platform, the donations for Swalwell’s campaign can be completed in a much easier and faster way than those for Andrew Yang because funders are not required to perform a 30-minute compliance call to donate an extensive amount of cryptocurrencies.