As coverage debates round Bitcoin have advanced, so has lawmaker curiosity in understanding find out how to translate this potential into regulation. BPI is proud to fulfill that demand with the launch of our Congressional Fellowship Program — a groundbreaking initiative designed to embed Bitcoin specialists straight into the halls of Congress. This program represents a pivotal step towards knowledgeable policymaking that fosters innovation quite than stifling it.
The July 30 launch of the long-awaited White Home report, “Strengthening American Management in Digital Monetary Know-how” marked a milestone within the evolution of what’s broadly known as digital asset coverage in america.
Beginning with a historic govt order by President Trump formally establishing a strategic bitcoin reserve, adopted by a number of items of bipartisan laws in Congress centered on stablecoins and market construction, the digital asset ecosystem is now on strong authorized and regulatory floor in america. However whereas the crypto trade is targeted on token launches and DeFi, Bitcoiners have a unique mission — altering the cash, so we will change the world. With the preliminary push of broader digital asset coverage and laws behind us, on the Bitcoin Coverage Institute (BPI), we stay centered on laying the muse for a revolution in Bitcoin-focused coverage in Washington, D.C.
As lawmakers climb the training curve, the necessity to present them with a deep, nuanced understanding of the potential that Bitcoin and its bigger ecosystem have will solely develop. Based in 2022, the Bitcoin Coverage Institute is a nonpartisan assume tank devoted to researching rising financial networks and advocating for sound public coverage. Our interdisciplinary workforce of economists, attorneys, technologists and coverage analysts has produced influential stories, comparable to “The Congressional Information to Bitcoin,” which demystifies the know-how for policymakers.
We’ve hosted the annual Bitcoin Coverage Summit in Washington, D.C., bringing collectively trade leaders, regulators and legislators to debate Bitcoin’s function in America’s future. Now, with the Congressional Fellowship Program, we’re taking our dedication to the following degree by inserting fellows in Congressional workplaces to supply real-time experience on Bitcoin-related laws.
The necessity for this program has by no means been extra pressing. Over the previous few years, we’ve witnessed a surge in Bitcoin-related payments and hearings on Capitol Hill. From discussions on power consumption and environmental impression to debates over taxation, stablecoins and nationwide safety implications, Bitcoin is more and more on the heart of coverage conversations.
Nevertheless, misconceptions abound. Some nonetheless view Bitcoin solely as a speculative asset or a software for illicit exercise, ignoring its profound contributions to monetary inclusion, censorship resistance and financial resilience. Others overlook the technical realities, resulting in proposals that might inadvertently hurt innovation or infringe on particular person freedoms.
That’s the place our Congressional Fellows are available in. These people will function Bitcoin coverage specialists and drive Bitcoin coverage straight from the halls of Congress. They are going to serve one-year phrases in bipartisan congressional workplaces, advising on laws, making ready briefings, and facilitating dialogues between stakeholders. Fellows will endure orientation coaching at BPI, protecting congressional procedures, ethics and Bitcoin fundamentals. As soon as positioned, they’ll work full-time as nonpartisan employees, specializing in points comparable to:
- Nationwide Safety and Geopolitics: Exploring Bitcoin’s potential in countering authoritarian management over cash and enhancing U.S. competitiveness in world finance.
- Power and Sustainability: Educating on Bitcoin mining’s function in grid stabilization and renewable power integration, countering myths about its environmental footprint.
- Monetary Regulation: Analyzing proposals for digital asset frameworks, guaranteeing they promote innovation whereas defending shoppers.
- Taxation and Compliance: Advising on honest tax insurance policies that don’t unduly burden Bitcoin holders or stifle adoption.
By embedding these specialists in Congress, we goal to raise the Bitcoin-related coverage past the normal finance-only focus. Think about a world the place lawmakers perceive proof-of-work consensus not as an power hog, however as a safe mechanism underpinning a decentralized community. Or the place insurance policies acknowledge Bitcoin’s skill to empower underserved communities — from remittances in creating nations to unbanked populations right here at dwelling.
Eligibility for the fellowship is open to U.S. residents or everlasting residents with demonstrated experience in Bitcoin or associated fields. Candidates ought to have at the very least three years {of professional} expertise, sturdy communication abilities and a dedication to nonpartisan service. The choice committee, comprising BPI management and exterior advisors, will prioritize candidates who can translate technical jargon into actionable coverage insights.
As Bitcoin enters its second decade, its success hinges not simply on code and markets, however on coverage. By equipping Congress with the information to navigate this new frontier, the Bitcoin Coverage Institute’s Congressional Fellowship Program paves the best way for a future the place Bitcoin empowers all Individuals. Let’s seize this chance to construct a regulatory surroundings that honors innovation, protects freedoms, and secures prosperity for generations to come back.
We invite Bitcoin lovers, coverage wonks and aspiring public servants to use through our web site at www.btcfellowship.org.
Ken Egan is the director of presidency affairs on the Bitcoin Coverage Institute. That is an Opinion piece; views acknowledged aren’t essentially these of Bitcoin Journal or BTC Inc.