Senator Dave McCormick. The name would confer power and prestige, an all-seeing, all-knowing protector of our economic destiny. Instead, it's sparking a question that chills the blood: are we witnessing the legalized corruption of crypto regulation?

McCormick sits on the Senate Banking Committee's digital assets subcommittee, a key player in shaping the future of cryptocurrency in America. Sounds responsible, right? Now, consider this: he holds up to a million dollars in Bitcoin-related assets. More precisely, he bought the top on Bitwise Bitcoin ETF in February and March. He's literally betting on the very industry he's supposed to regulate.

This isn't about hating on Bitcoin. It’s more about the smell of that impropriety coming from Capitol Hill. We’re not even discussing a perceived conflict, we’re discussing a direct conflict of interest, plain and simple. How can McCormick ever be a neutral arbitrator when his decisions will have a decisive effect on his own fortune? The answer is likely no.

Think about it this way. Imagine a Surgeon General with major stock holdings in a tobacco firm. Simultaneously, though, they act as the President’s wise counsel on tobacco policy. Outrageous, right? The same principle applies here.

What’s happening with McCormick goes far beyond being a domestic issue for the US. In doing so, they further weaken the global effort to create consistent, fair and transparent crypto regulations. Other nations are watching. In each case, are we demonstrating ethical leadership? Or are we just subtly suggesting that crypto regulation tends to favor insiders who benefit at others’ expense?

We've seen similar issues plague other industries. Pharma companies bribe Congress to keep drug prices high, oil industry lobbying to block efforts to combat climate change. Now, crypto joins the ranks. This isn't innovation, it's cronyism.

What’s to stop legislators from passing laws that cost money in order to enrich themselves? Stricter ethical guidelines are a must. Transparency is crucial. We need transparency to know the specific assets our elected officials have a stake in. It’s very important to know how their legislative actions might affect those assets.

Is a blind trust truly blind? Maybe it's time to consider independent oversight of lawmakers' investments, ensuring they have no direct control or knowledge of their holdings while in office.

Where does this stop? If McCormick is granted a pass, it sets a bad precedent for other senators. They’ll begin stocking up on crypto before voting on major legislation too. We're opening the floodgates to corruption if we don't act now.

McCormick frames his advocacy as an effort to ensure that America leads the way on blockchain. What effect does that have on that leadership when it looks to be bought and paid for? What do we do when the very act of applying common sense regulation to crypto becomes a way for politicians to line their own pockets?

He is not the only one. Marjorie Taylor Greene invested in Bitcoin. Given the enormous scale of McCormick’s investment and his influential role on the Banking Committee, his actions present a set of unique concerns.

Remember the 2008 financial crisis? Deregulation, unbridled corporate avarice and politicians blindly ignoring the warning signs of the coming calamity. We can’t let crypto pull another fast one on us.

This isn't a partisan issue. This is to restore the integrity of our government and the fairness of our markets. Call your senators. Demand transparency. Demand ethical conduct. Send a message and tell them that you have your eye on them, and you will not stand for corruption.

We must demand tougher rules, and greater transparency. The future of crypto regulation – and our trust in our elected representatives – hangs in the balance.

He is not the only one. Marjorie Taylor Greene also invested in Bitcoin. But the scale of McCormick's investment, coupled with his position on the Banking Committee, raises unique concerns.

Unexpected Connections: The Housing Crisis Repeat?

Remember the 2008 financial crisis? Deregulation, unchecked greed, and lawmakers turning a blind eye to the impending disaster. We cannot allow history to repeat itself with crypto.

The Solution? Demand Accountability

This isn't a partisan issue. This is about the integrity of our government and the fairness of our markets. Call your senators. Demand transparency. Demand ethical conduct. Let them know that you're watching, and you won't tolerate corruption.

We need to push for stricter regulations and more transparency. The future of crypto regulation – and our faith in our elected officials – depends on it.