The former Chief of Staff in the White House has advocated for urgent reforms in crypto legislation in the United States.
Mick Mulvaney, former US Congressman and Chief of Staff of the White House from 2019-20, has stated how 2023 could witness reforms being introduced in the crypto legislation of the United States. He said that such matters weren’t the domain of a single political party and that all legislators should work together to bring reforms in the country’s crypto legislations
“I do think in this Congress, which has got functionally about 14–16 months left before it sort of shuts down before the next election cycle, you will get a meaningful piece of legislation on blockchain/crypto — what we’re referring to collectively as digital assets,” said Mulvaney. The proponent of decentralized finance has had a long experience in the US government.
Mick Mulvaney strongly believes the current failure of a few prominent banks in the US was due to management issues, and crypto did not have any role in the crisis. The banks had several crypto firms as their clients. He also claimed that crypto supporters were present in both political parties of the United States. The perfect example is how the Digital Assets Subcommittee of the House Financial Services Committee has both Democratic and Republican members.
Mulvaney, who is presently a strategic adviser at Astra Protocol, is optimistic about the future of crypto and its underlying technology. Though he voiced some of his concerns with the present government’s approach towards crypto, he said he hoped regulators and the government would not take a skeptical approach towards the industry. He also spoke about how he got interested in Bitcoin about a decade back and has supported crypto since then.