The TBC’s director of Bitcoin mining analytics stated that he opposed the Fed’s consideration of a central bank digital currency and intended to advocate for “digital freedom.”
A crypto advocacy group’s Texas Blockchain Council’s director of Bitcoin mining analytics, Steven Kinard, has declared his intention to run for a seat in the Texas House of Representatives.
Kinard declared his intention to run for Texas House District 70 in the Dallas-Fort Worth region on July 11. If successful, he would be elected to a two-year term that would begin in 2025. The candidate spent almost three years with BOK Financial before beginning employment at the Texas Blockchain Council in March 2022.
Kinard also claimed he intended to promote “digital freedom” and “strategic technology investments” in his campaign. If he prevails in the Republican primary for the district, he will probably compete against Democratic incumbent Rep. Mihaela Plesa, who has held office in the Texas House since 2023.
A few other Republican lawmakers, including Florida governor and 2024 presidential candidate Ron DeSantis, joined the candidate’s criticism of the Federal Reserve for “recklessly” attempting to introduce a central bank digital currency (CBDC). Kinard intended to “resist and stop any research” into CBDCs, according to his campaign website.
Following the flight of many miners from China, Texas, and the state’s capital city of Austin in particular, has become a significant source of Bitcoin mining activity for the ecosystem. Although the Texas State Senate approved a bill in April to restrict the incentives for cryptocurrency miners, the government has also voted in favor of including cryptocurrency in the state’s Bill of Rights, and Governor Greg Abbott has identified himself as a “crypto law proposal supporter.”
The US presidential primaries for 2024 are coming up soon, and for many voters, blockchain and cryptocurrency are crucial issues. In all 435 U.S. congressional districts, Coinbase CEO Brian Armstrong has urged crypto investors to “elect pro-crypto candidates” as lawmakers have proposed legislation to regulate digital assets.
