There used to be a time almost 7 months back when the cryptocurrency industry was almost despised by the US administration. The political parties in the United States were all against the idea and adoption of cryptocurrencies.
There were hardly any political personalities or congressmen/senators who supported cryptocurrencies. Even the regulatory authorities were too strict and at times, harsh against cryptocurrencies. There were several incidents where the regulatory authorities went to the cryptocurrency firms for their performance and popularity in the country.
At that time, the cryptocurrency firms were having second thoughts and were thinking of moving their operations outside of the United States.
As the government of Joe Biden came into power in January of 2021, things have started changing around cryptocurrencies. The current administration has joined the office knowing the potential of cryptocurrencies. It knows that getting rid of cryptocurrencies would be impossible, so, it is wise to adopt them.
Now the US administration is showing flexibility and leniency towards the cryptocurrency industry. This means that the cryptocurrency industry will have a breather and then it can start expanding throughout the states.
So far, states such as California, Florida, and Hawaii have started adopting cryptocurrencies on a larger scale.
Now, the National Republican Congressional Committee of the United States has taken a huge step towards cryptocurrencies. Their action has proven that even the opposition parties in the United States recognize the potential of cryptocurrencies and are willing to accept them.
The NRCC is responsible for carrying out all the electoral efforts for the Republican Party and it coordinates with them on different matters as well.
Just recently, the particular body has gone ahead and announced that it is now accepting cryptocurrencies for donations. The company has quoted that Bitcoin (BTC) would be at the top of the cryptocurrencies it is adopting.
The announcement regarding the acceptance of cryptocurrencies was made by NRCC on Wednesday, June 16, 2021. The NRCC used the Twitter platform to make the announcement and spread the word all across its followers and the entire Twitter community.
The NRCC has announced that for the election campaigns, it has started accepting cryptocurrencies in donations. The NRCC added in the Twitter announcement that with cryptocurrencies, it would shoot its attempt of fundraising to the moon.
Just like the rest of the entities in the United States, NRCC has also acquired the services of BitPay to process cryptocurrency transactions. BitPay is currently the largest cryptocurrency-to-USD provider in the United States. All major entities and even celebrities/athletes in the United States have adopted BitPay at one point to convert crypto to USD.
Tom Emmer, the chairman of NRCC and Minnesota Representative stated that with cryptocurrencies, they will be able to target every avenue in order to collect donations.