Cryptocurrency natives and fans of Detroit rapper Big Sean flocked to Lager House, outside downtown Detroit, for the third stop of America loves cryptocurrencies The tour. The event featured an evening of live entertainment and a call to action to encourage voters to vote with cryptocurrencies in the upcoming 2024 elections following previous stops in Arizona and Nevada.
Michigan is a battleground state, and the Stand With Crypto coalition believes the state’s 940,000 bitcoin and crypto owners — 25,000 of whom are Stand With Crypto members — could be decisive in the next presidential election. Michigan’s 2020 election margin was only about 156,000 voters, meaning crypto voters could influence the outcome of the 2024 election.
Local startup founders, college blockchain clubs, former state Rep. Ryan Berman (R), and Stand With Crypto Alliance activists took to the stage at the third stop of the statewide field show to deliver a simple message: digital asset owners and entrepreneurs have power, and it’s time to make their political voices heard.
The past few years have seen the industry hit hard by inconsistent regulatory action by the SEC. Adam Zentarski, co-founder of Detroit Ledger Technologies, said he would like to see this change so that “startups can focus on growth, not on moving the company to another country.” On behalf of the state’s entrepreneurs, he simply asks regulators to “let them build.”
In an interview with Bitcoin Magazine, former Michigan state representative and attorney general candidate Ryan Berman echoed similar thoughts about the role of regulation.
“You can’t predict what’s going to happen in this tech space, but we want to make sure that people are able to innovate and have the tools they need without being held back by the government,” Berman said. “Detroit has been booming over the last two decades. It would be helpful to put Michigan on the map and say, ‘Hey, we want to welcome these types of companies, we want to innovate.’”
Berman went on to stress the economic importance of encouraging innovation in the state:
“Here, at this event, we heard from entrepreneurs from the University of Michigan, (whose) half of the students are from out of state. The other half are in-state students from our great schools — right now, our students are leaving the state for jobs. What can we do to keep our students here? Technology at the forefront.
Cryptocurrency Education: Not Just for Elected Officials
Technological innovation was the order of the day during America Loves Crypto’s stop in the Motor City, and what caught the eye was the cultural interest in Bitcoin and cryptocurrencies mixed with the pride that many Detroiters, especially college students, feel for their state of residence. University of Michigan Blockchain Club President Evan Solomon received a standing ovation from the crowd when he chanted the name of his alma mater.
College students and educational institutions, a particular point of pride for Michigan, seem to be paying close attention to Bitcoin and cryptocurrencies this election season. Speaking to Bitcoin Magazine, Solomon proudly shared that his campus club received support from the prestigious Ross School of Business to host an event with 25 visiting organizations.
However, Solomon also noted that clear regulation is “the most important thing” when it comes to fostering talent and boosting industry in the state. When students are considering what careers or businesses to pursue after college, the stigma of overregulation is a major factor. But the tide is turning and Solomon is optimistic after a 2023 meeting with U.S. Sen. Gary Peters (D), saying, “I thought the reception was great, they wanted to hear from us, they wanted to hear more about the applications.”
Code and Law: Developers’ Constitutional Battles
Bitcoin and cryptocurrencies in Michigan are not just a matter of revenue and economic development, they are important constitutional considerations for Michigan’s more than 940,000 cryptocurrency owners.
Berman, who has a legal background, explained that the overlapping considerations of the First, Second, and Fourth Amendments have shaped his views on cryptocurrencies. Specifically, he argued that 3D printing files to create firearms is a constitutional right protected by the Second Amendment as much as it is a matter of free speech and privacy, and he sees an overlap with cryptocurrencies in this regard now that developers of open-source privacy tools are also being sued.
“Freedom of speech is what the Founding Fathers stood for. Publishing evidence might be bad if someone uses it for a bad purpose, but[in the case of 3D-printed guns]there are a lot of legitimate purposes as well. But even if there is no purpose, it doesn’t matter what the purpose is, it’s all about freedom, it’s all about the First Amendment. I’m a huge advocate of not only the Second Amendment and the First Amendment, but also the Fourth Amendment in particular when we talk about encrypted communications.”
America Loves Crypto continues its road show this week and next Milwaukee, Philadelphia and Washington DCAttendees can RSVP These free events will allow them to register to vote while connecting with like-minded people ahead of Election Day in November.
Comments are closed, but trackbacks and pingbacks are open.