U.S. President Donald Trump says he is determined to build a wall on the U.S.-Mexico border and he will shut down the government this month unless Congress pays for it. Hoping to snap the stalemate that has gripped markets, adding anxiety to already nervous stock and crypto investors as a result, is Congressman Warren Davidson, from Ohio’s 8th District. Davidson has suggested to solve the impasse by raising the $5B required according to Trump by using blockchain technology and issuing "wall coins."
"I've offered a modest compromise called Buy a Brick, Build a Wall, which lets the American people, or whomever should choose to donate – Mexicans or otherwise – to donate to the program," Davidson said in an interview to NPR last week. "You could do with this sort of, like, crowdfunding site. Or you could even do blockchain, and you could have wall coins. But you could raise the money. And frankly, if we get it right at the Treasury, you could even accept Mexican pesos."
Davidson is keeping his name ever-present in the cryptosphere, stating at the Blockland Cleveland conference earlier this month that he will soon present legislation that could have a big impact on the initial coin offering (ICO) industry in the U.S.
The SEC announced last month that it had settled two charges against ICO issuers due to their unregistered offerings of tokens, but Davidson plans to take some of the authority out of regulatory hands, saying that his bipartisan bill, a significant factor as it will be presented to a committee controlled by the Democrats while he is a Republican, would seek to create an "asset class" for tokens. That would mean they would no longer be classified as securities, but nevertheless still be regulated by the federal government.