Fourth District Congressional representative Bill Huizenga joined local business owners and cryptocurrency advocates for a roundtable discussion in Kalamazoo on Tuesday.
The discussion was hosted by Coinbase-backed cryptocurrency advocacy group “Stand with Crypto” as part of an ongoing series of roundtables with pro-crypto legislators.
Huizenga spoke with panelists about various topics, like crypto’s role in small business and how legislation could advance the cryptocurrency industry. He spoke several times in support of the CLARITY Act — a bill with heavy backing from crypto companies that would establish regulatory guidelines for digital commodities.
Huizenga is one of 32 candidates that Stand with Crypto recently endorsed due to his support for the CLARITY Act.
Kalamazoo-area entrepreneur Kavitha Kanaparthi is the founder of tech firm Soulverse, which offers blockchain services that integrate cryptocurrency. Kanaparthi and other panelists said they believe more people should put their money into cryptocurrency.
"There’s so much money in everybody’s pockets these days," Kanaparthi said, suggesting that members of the public could benefit from putting some of that money toward crypto.
Several panelists, including Huizenga, said they believe crypto can help give people financial security.
“The interesting thing is that you're seeing it in communities that many people wouldn't [have] expected it. Minority communities, for example. And you don't have to be this quote 'wealthy banker', all right, to get involved in-into crypto. And that is — that's the exciting part of it. It really is that great equalizer in many ways," Huizenga said while speaking with reporters after the event.
When asked how he thinks cryptocurrency would benefit his constituents who may be struggling with day-to-day finances like the price of gas, Huizenga said:
"I think a lot of people don't understand how crypto and the — this future of money, how it already is impacting their lives. And it has made certain things cheaper because of friction. You know, that's where you see some of those costs increase. So, if we can use crypto and use digital assets in a way that drives out friction within that — those — all of those transactions, that allows a — whether you're at a restaurant or a gas station, or frankly, even healthcare, right?
"Where sometimes you know, these payments take months to happen. And in the case of retailers, it's like reconciliation every few days or things like that. So, you know, the idea here is to make sure that crypto and digital assets are more efficient and that people are able to plug into that. And the more that people can plug into that, the better off that, that they're going to be."
Huizenga attended the event with his spokesperson, Brian Patrick, who screened reporters’ questions before a media availability.
Initially, Patrick told this reporter that Huizenga had time for questions from a local television outlet, but not WMUK. When asked why, Patrick said:
"Video killed the radio star."
When pressed for his reasoning, Patrick said that WMUK is a "hostile outlet." He suggested that WMUK's February coverage of Huizenga's vote against the ROTOR Act, which aimed to improve airline safety, was biased against the Congressman. WMUK sought an interview with Huizenga for that story.
"Unfortunately do [sic] to travel I cannot make that timeline for an interview work however here is a statement from Bill regarding ROTOR and aviation security," Patrick replied. WMUK used portions of that statement in the story.
Patrick eventually agreed to let this reporter stand by during the TV interview, and to ask one question related to cryptocurrency and affordability. Patrick rejected WMUK’s inquiries about how the Iran war and trade war with Canada might affect Republicans’ prospects in the November election, describing them as irrelevant because they were not about cryptocurrency.
Huizenga did give brief remarks on oil prices and the Strait of Hormuz while responding to a question about healthcare policy.
“The simple fact is we've got to get our energy production up. That's been happening. We need to make it easier to produce that energy here in the United States. The Straits of Hormuz has got to get figured out. And I know that is something that the U.S. Navy has gotten very active on clearing those mines," Huizenga said.
In response to questions about how to make healthcare more affordable, Huizenga said Medicare for All is “not going to be the answer.”
