Coinbase CEO Brian Armstrong has publicly endorsed David McCormick, the Republican Senate candidate running for a seat in Pennsylvania. Armstrong’s strong support for McCormick aligns with Pennsylvania’s recent passage of the Bitcoin Rights Bill. On October 23, Pennsylvania’s House of Representatives passed HB-2481, making it the latest state to clarify digital asset regulations.
In an X post on October 25, Armstrong stated, “Now let’s elect Dave McCormick for Senate to protect our rights at the federal level.”
Nicely done Pennsylvania – now let’s elect Dave McCormick for Senate to protect our rights at the federal level. https://t.co/ds9ORbTsXE
— Brian Armstrong (@brian_armstrong) October 25, 2024
Pennsylvania’s Bitcoin Rights Bill Boosts Crypto Freedoms
The Satoshi Action Fund (SAF) played a key role in advocating for solid crypto regulations in the U.S., with the passage of the Bitcoin Rights Bill being their most recent success. The bill protects the rights to self-custody and crypto payments, exempts digital assets from additional taxation, and asserts the right to operate Bitcoin nodes.
It also secures individual freedoms to use Bitcoin as payment and provides clear guidelines for Bitcoin transaction taxes. The bill passed with overwhelming support, receiving 176 votes in favor and 26 against, highlighting bipartisan backing.
Read also: Ripple CEO Backs John Deaton in Massachusetts Senate Race
Armstrong has been actively supporting various Republican Senate candidates, including McCormick and pro-XRP lawyer John Deaton. Recently, the Coinbase CEO encouraged crypto enthusiasts to vote for Deaton in the Massachusetts Senate election. Armstrong has also been critical of Senator Elizabeth Warren due to her anti-crypto stance. On October 20, Armstrong stamped his support for McCormick, posting on X:
“If you live in Pennsylvania, you should vote for David McCormick. He is the better candidate on crypto.”
Comparing the Candidates: McCormick vs. Casey
In response to Armstrong’s backing of McCormick, MetaLawMan, quite a popular crypto voice on X, described the Pennsylvania Senate race as “interesting.” He compared the Republican candidate McCormick with Democratic contender Bob Casey. Casey, a lawyer and politician, has held several political offices and has been Pennsylvania’s senior U.S. Senator since 2007.
On the other hand, McCormick, a businessman and politician, graduated from West Point and excelled at Ranger School. He also served as the CEO of hedge fund Bridgewater Associates from 2020 to 2022.
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