Mick Mulvaney is expected to be confirmed today by the US Senate as the Trump administration’s Director of Office of Management and Budget. This is hailed as a great development for the American fintech ecosystem as he is a known supporter of blockchain technology and cryptocurrencies.
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A Tea Party Republican, Mulvaney is considered a staunch fiscal conservative that wishes to drastically limit the federal government’s spending on social programs. Last week he faced a hard confirmation hearing when Democrats grilled him on his positions as well as a misunderstanding about paying taxes for a babysitter he once employed which Senator Bernie Sanders called “very, very important.”
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Mulvaney was already scheduled to face confirmation votes in two Senate committees this Tuesday but the voting was postponed until Thursday. The Senate Homeland Security and Governmental Affairs will vote at 10:00 am, Washington DC local time, and at 11:00 am the Senate Budget Committee will follow.
Perianne Boring, President of The Chamber of Digital Commerce, commented to Finance Magnates: “The nomination of Congressman Mulvaney, co-founder of the Congressional Blockchain Caucus, as Director of the Office of Management and Budget shows welcome sophistication on the part of the new Administration. A smart approach toward agency adoption, and regulation of this breakthrough technology is just what’s needed to establish and maintain the U.S. as the global leader in distributed ledger technology.”
Commonly known as the Bitcoin Caucus, the mission of the body that Mulvaney co-founded is to help congressmen stay up to speed on cryptocurrency and blockchain technologies, and develop policies that advance them.
He is also a supporter of Coin Center, a non-profit research and advocacy center focused on public policy issues facing cryptocurrency technologies, which raised over $1 million earlier this year.