America Loves Crypto Tour recently made a stop in Detroit, drawing crypto enthusiasts and fans of Detroit rapper Big Sean to the Lager House just outside downtown. This was the third stop of the tour, following successful events in Arizona and Nevada.
The Detroit event not only provided live entertainment but also emphasized the critical importance of the upcoming 2024 elections for cryptocurrency enthusiasts. It was a call to action, encouraging crypto owners to use their political power at the ballot box.
Michigan is a key battleground state in presidential elections, and with over 940,000 bi-partisan Bitcoin and crypto owners, the Stand With Crypto Alliance views Michigan’s crypto community as a potential deciding factor in the 2024 election.
The 2020 election was decided by a margin of just 156,000 voters in Michigan, making the state’s crypto community a crucial swing demographic. With 25,000 members of the Stand With Crypto Alliance already, this group has the potential to significantly influence electoral outcomes.
Building Crypto Awareness and Political Leverage
Local startup founders, university blockchain clubs, and political figures such as former State Representative Ryan Berman (R) joined the stage at the Detroit event, along with key figures from the Stand With Crypto Alliance.
The message was clear: digital asset owners and entrepreneurs have leverage, and now is the time to make their voices heard. The event focused on educating attendees about the importance of regulatory clarity and political engagement for the crypto community.
For many crypto entrepreneurs, the US Securities and Exchange Commission’s (SEC) inconsistent regulatory actions have been a significant roadblock. The uncertainty caused by shifting regulations has made it difficult for startups to focus on growth.
Adam Zientarski, co-founder of Detroit Ledger Technologies, expressed the sentiment of many entrepreneurs, stating that he hopes for regulatory change to allow startups to focus on building rather than considering relocation to more favorable jurisdictions.
Speaking to Bitcoin Magazine, Ryan Berman echoed these concerns. He highlighted the unpredictability of the tech space but stressed the need for innovation without government overreach.
“Detroit has been on a rebound for the last couple of decades,” Berman noted, adding that welcoming tech companies, particularly those in the blockchain and crypto spaces, could further boost Michigan’s economy and put the state on the map as a hub for innovation.
Crypto Education: A Key Focus for Michigan’s Students and Startups
A strong focus of the event was on education, particularly in terms of fostering interest in cryptocurrency among Michigan’s university students and tech-savvy youth. Evan Solomon, president of the University of Michigan Blockchain Club, was met with applause when he mentioned the university’s involvement in the crypto space.
He emphasized that educational institutions like the Ross School of Business are becoming more engaged with the crypto community. Solomon proudly shared how his club is working with Ross to host events attended by 25 major organizations, highlighting the importance of Bitcoin and crypto in the modern economic landscape.
Despite this enthusiasm, Solomon pointed out that regulatory clarity is still the single most important factor for fostering innovation and retaining talent within the state. Students graduating from Michigan’s top schools are often deterred by the complexities of crypto regulation, leading many to seek opportunities out of state.
However, Solomon expressed optimism after a 2023 meeting with U.S. Senator Gary Peters (D), where the senator showed interest in the applications of blockchain technology. Solomon believes that with continued dialogue and clearer regulations, Michigan could retain more of its homegrown talent and become a leader in crypto innovation.
Constitutional Implications for Developers and Crypto Users
Cryptocurrency in Michigan is not only seen as a tool for economic growth but also as a matter of constitutional significance. Ryan Berman, with his background in law, delved into the constitutional dimensions of crypto.
Drawing parallels between the First, Second, and Fourth Amendments, he noted that issues like 3D-printed firearms and open-source privacy tools present similar legal challenges. For Berman, the rights to free speech, privacy, and gun ownership are all intertwined with the development and use of privacy-focused technologies like Bitcoin.
Berman emphasized that free speech should be protected even if some use the information for illicit purposes, as the First Amendment guarantees the right to publish and share information freely.
He compared the publishing of 3D-printing files for firearms to open-source development in the crypto space, arguing that developers should not face prosecution for merely creating tools. This intersection of constitutional rights and technology underscores the broader debate surrounding cryptocurrency regulation and its impact on innovation.
Looking Ahead: The Crypto Road Show Continues
America Loves Crypto Tour continues its journey across battleground states, with upcoming stops planned in Milwaukee, Philadelphia, and Washington D.C. These events offer attendees a chance to connect with fellow crypto enthusiasts, register to vote, and get involved in shaping the future of crypto-friendly legislation.
The tour aims to galvanize the 940,000 crypto owners in Michigan and millions more across the United States, encouraging them to participate in the political process and stand up for their digital asset rights.
With the 2024 election on the horizon, the crypto community is mobilizing like never before.
The roadshow serves as a reminder that crypto owners have significant political leverage, and their votes could play a pivotal role in shaping the next phase of crypto regulation in the United States.
As the tour rolls on, crypto voters are being called upon to make their voices heard and influence the political landscape to ensure the continued growth and innovation of the blockchain industry.
For those interested in attending, the America Loves Crypto Tour offers free events that combine education, entertainment, and political engagement. By the time election day arrives in November, the crypto vote may prove to be a key factor in battleground states like Michigan, helping to shape the future of both the cryptocurrency industry and American politics.