Democratic lawmakers and 2024 candidates see Vice President Kamala Harris as a chance for their party to shift its stance on digital assets. A group of 14 House members and 14 congressional candidates have signed a letter urging the Democratic National Committee (DNC) to adopt a more positive view of cryptocurrencies and blockchain technology.
In a July 26 letter addressed to DNC Chair Jaime Harrison, notable figures such as Representatives Ro Khanna, Wiley Nickel, and Ritchie Torres expressed concern over the party’s perceived hostility towards the digital asset sector. They argue that this negative perception is largely due to the current approach of the Securities and Exchange Commission (SEC) towards these technologies.
The lawmakers stated, “There is a public perception that the party holds a negative viewpoint on digital assets, largely due to the current SEC’s approach to these transformative technologies. We believe this previous hostility does not reflect our Party’s progressive, forward-looking, and inclusive values. A refreshed leader of the ticket represents an opportunity to change that perception.”
The letter emphasized the non-partisan nature of digital assets, urging the Democratic Party to support these innovations to maintain the United States’ leadership in the global digital economy. This push comes in response to the Republican National Committee’s recent inclusion of pro-crypto policies, such as defending the right to mine Bitcoin and opposing a US central bank digital currency.
Moreover, the letter suggested that should Kamala Harris secure the presidency, she should consider replacing SEC Chair Gary Gensler with a “pro-innovation” regulator. The lawmakers and candidates also encouraged Harris to select a running mate knowledgeable in digital asset policy. Among those reportedly under consideration are Transportation Secretary Pete Buttigieg, Pennsylvania Governor Josh Shapiro, and Arizona Senator Mark Kelly.
This advocacy from Democratic lawmakers comes amid broader discussions on cryptocurrency within political circles. Prominent figures from both parties, including Republican Senators Cynthia Lummis, Tim Scott, and Bill Hagerty, as well as Democratic Representatives Khanna and Nickel, recently spoke at the Bitcoin 2024 conference in Nashville. Additionally, Republican presidential candidate Donald Trump is expected to address the conference, discussing his campaign’s stance on Bitcoin.
As the 2024 election approaches, the Democratic Party faces a crucial decision on how to position itself regarding digital assets, a move that could significantly influence its appeal to a rapidly growing voter base interested in cryptocurrency.
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