In California, a nonprofit with ties to Donald Trump is influencing state legislation on cryptocurrency, a topic close to the president’s interests. The group, co-founded by Mandy Gunasekara, former chief of staff at the Environmental Protection Agency during Trump’s first term, is supporting a bill from Democratic California Assemblymember Avelino Valencia to facilitate cryptocurrency payments in the state.
Trump’s Influence on Crypto in California
This partnership comes amidst growing attention to Trump’s involvement in the crypto sphere, highlighted at events like the Bitcoin 2025 conference in Las Vegas. While Democrats in Washington navigate regulatory challenges, Valencia’s bill, backed by the nonprofit Satoshi Action Fund, tests a state-centric approach to advancing crypto interests.
State-First Strategy for Crypto Advocacy
CEO Dennis Porter of Satoshi sees state legislatures, such as California’s, as pivotal for swift and cost-effective pro-crypto policy implementation. By setting the groundwork at the state level, the industry aims to influence national agendas effectively.
Porter draws parallels to historical movements like civil rights and cannabis legalization, emphasizing the importance of state-level momentum in shaping federal policies.
Satoshi’s Impact Beyond California
Satoshi Action Fund has already catalyzed pro-crypto initiatives in predominantly Republican-controlled states like Montana, Louisiana, Oklahoma, and Arkansas. Proposing legislation for public pension fund investments in cryptocurrencies, Satoshi aims to drive broader acceptance and adoption.
However, California poses unique challenges with its crypto-skeptical legislature, which imposed stringent regulations on digital assets in 2023.
Democratic Dilemma and Bipartisan Support
Democrats in California face a dilemma over supporting pro-crypto policies due to Trump’s involvement in the industry. While some are cautious about potential conflicts, others, like Valencia, view cryptocurrency as the future of finance.
Valencia’s bill, crafted independently but with input from Satoshi, aims to establish clear guidelines for crypto payments in the state without imposing undue burdens on businesses or consumers.
Future Outlook for Crypto Legislation
As the debate unfolds in California, the influence of organizations like Satoshi Action Fund underscores the bipartisan nature of crypto advocacy. Democrats and Republicans alike recognize the technological advancements and economic potential of digital currencies.
Valencia, a proponent of digital currency since his university days, champions fair treatment for crypto users while fostering innovation and consumer protection in the evolving financial landscape.
Stay informed about how California shapes tech policy with POLITICO’s California Decoded newsletter, offering daily insights into the state’s tech landscape and regulatory developments.
