On the 29th of November, 2019, the AJF news portal reported that the Georgia senator, Johnny Isakson, will resign from his position due to health problems. In the wake, over 500 people have applied to fill the gap of his position. With all these candidates, one seemed to shine out to the Governor, Brian Kemp: Kelly Loeffler, the Chief Executive Officer of the Bakkt exchange. Reports regarding this matter state that her appointment will be due next week to succeed in Isakson. Of a range of reasons, increasing the female presence within the Republican Party was one of the reasons behind it.
Making America Great As Crypto CEO
Loeffler has already spoken out in public, expressing her opinions of tightening drug control, securing the borders, and reducing human trafficking and health costs. Furthermore, she’s thrown her public stance behind trump, stating that she wants to make America great again. She said that she would stand with the public, the President, as well as Senator David Perdue when it comes to policies.
While her goals in policy are the usual suspects, the crypto industry is keen on seeing Loeffler take office, considering she could contribute to the adoption of mainstream crypto within the US. As is the case on most things, the US and China have been rivaling each other in many sectors for years now, with blockchain technology and fintech only being the latest frontline.
Novogratz: US Should Focus on Crypto
Mike Novogratz, a well-known multi-billionaire and Bitcoin bull, has already expressed the opinion that the US could lose its role as a global pioneer to China, should the country’s regulators not make significant progress. He did so on many occasions during interviews, stating that China will “eat our lunch” should the US regulators stifle innovation in fintech. He envisioned blockchain technology and cryptocurrencies to be a facet of consumer and financial infrastructure in the future.
Being the CEO of the crypto exchange, Bakkt, Loeffler is a prominent proponent of the crypto industry. The real question comes as to whether she is capable of pushing the adoption of a uniform legal framework for the crypto industry, should she be Senator of Georgia. Loeffler can leverage her position of extensive knowledge of the crypto industry’s inner workings to help create a legal framework that would be attractive for investors.
ICYMI: Friday's Bakkt Bitcoin Monthly Futures:
📈 Traded contracts: 3167 ($24.61 million, +12%)
🚀 All time high: 5671 (11/27/2019)
💰 Open interest: $4.61 million (+7%)
— Bakkt Volume Bot (@BakktBot) November 30, 2019
Many Players Make a Team
Regardless of her abilities and actions, crypto experts agree that she would raise the issue of crypto within the country, should she become a senator. They theorize that further actors are necessary to allow for significant progress in the industry. Ripple has already started to take part, setting up an office in Washington, D.C., to try and influence the blockchain regulation issue.