It would seem like crypto and politics don’t always go together, but thanks to Agatha Bacelar, this is potentially changing.
Bacelar: Crypto Is a Solid Tool
Agatha is a 27-year-old Brazilian immigrant in San Francisco. She’s currently challenging current Representative and Speaker of the House Nancy Pelosi for a spot in the American Congress. What’s her big claim to fame? She’s accepting crypto payments through Coinbase from those looking to fund her campaign.
Bacelar has a set a crypto funding goal of roughly $1 million, and thus far, she’s raised nearly $5,000. She accepts several of the top 20 cryptocurrencies including bitcoin, Ethereum, bitcoin cash, USD Coin and Litecoin. Prior to her entry into the political arena, Bacelar was a Stanford engineer who worked for her father’s business Democracy Earth and for Emerson College.
Bacelar states that many politicians don’t understand, much less appreciate, how solid cryptocurrencies are. They don’t realize what they’re capable of or how they can potentially resolve several of the issues plaguing today’s financial infrastructure. As things stand today, she believes “economic freedom” is being held back.
She’s not the first candidate to take on the aura of “crypto lover.” Entrepreneur Andrew Yang, who’s one of many candidates in the 2020 presidential run for the White House, also began accepting donations to his campaign in crypto. In addition, he has also said that one of the main points of his presidency will be to protect crypto businesses and users from changing rules and fixing the country’s “confusing” cryptocurrency regulations.
He later commented:
It’s time for the federal government to create clear guidelines as to how cryptocurrencies and digital asset markets will be treated and regulated.
Another such candidate was California Democrat Eric Swalwell, who announced last May that his campaign was now open to donations in digital assets. While he has repeatedly sent letters to the Internal Revenue Service regarding clearing up present cryptocurrency tax laws, his involvement in the blockchain and crypto space is arguably not as established as Yang’s.
Time to Change How Things Are Done
In a recent interview, Bacelar says that cryptocurrency can potentially help people govern themselves. She acknowledges that while America’s financial infrastructure has worked for much of the population, many people remain unbanked or underbanked, and current institutions seeks to keep them that way by denying them access to credit and other tools they’ll need to survive or make everyday purchases.
She is also confident that several privacy and security issues can be solved with blockchain, bitcoin’s underlying technology. Lastly, she is calling for stronger and better regulation from the federal government. As it stands, present legislation regarding cryptocurrencies have ultimately driven businesses away from the space. They stifle innovation, and she’s hoping to potentially change this during her time in office.