Morgan Harper, a former senior adviser at the Consumer Financial Protection Bureau is coming out as “crypto curious” in her race for the Democratic nomination for one of Ohio’s United States Senate seat.
Harper stated that she is interested in what Bitcoin (BTC), and other cryptocurrencies might mean for Ohio policy. The Democratic candidate claims that Bitcoin can replace many traditional banking functions by transferring “the wealth” of the network to all users, rather than just a few large shareholders.
Harper stated that there are many crypto projects who want to compete with banks and social media companies in almost every aspect. Their basic model is more inclusive that a corporation. “I’ve heard stories and seen stats about #bitcoin usage by young people & people of colour. This makes sense because historically we have been excluded from traditional forms of investment.
Harper, 38, stated that she was “in learning mode” regarding crypto and invited her 24,000 followers to comment on how legislators might “keep bad actors away while encouraging innovation.”
Harper officially announced her candidacy for the U.S. Senate against Tim Ryan, treasurer for the Cuyahoga Water Conservation District Demar Scheffey and other Democrats. She would be re-elected in 2024 with fellow Democrat Sherrod brown, if she is elected as the Democratic candidate.
Harper could replace Senator Rob Portman. He announced in January that he would not seek re-election because it was “harder to break through the gridlock and make substantive policy progress.” He suggested in April a bill that would better define reporting crypto to U.S taxpayers.
Related: House approves $1T infrastructure bill, with crypto tax to Biden
In the recent debate about infrastructure, Senator Portman supported an amendment that his colleagues proposed. This would have changed the definition of broker to exclude developers, transaction validators, and node operators. The infrastructure bill was passed by both the Senate and House of Representatives without any clarifications on crypto brokers. President Joe Biden is currently awaiting his approval.