Democrats Push for New Crypto Policies Amid Trump’s Rising Influence
A group of Democratic lawmakers and candidates has urged the Democratic National Committee (DNC) to reconsider its stance on cryptocurrencies.
This plea comes as Republican candidate Donald Trump gains popularity with his pro-crypto stance.
On July 26, 14 Democratic legislators and three electoral hopefuls submitted a letter to DNC Chairman Jamie Harrison, advocating for a more forward-thinking approach to digital assets. They argue that cryptocurrencies and blockchain technology have significant potential for fostering innovation and economic growth in the U.S.
The letter criticized the party’s current image as “anti-crypto,” which they attribute to the SEC’s stringent regulations under President Biden. With 52 million crypto users in the U.S. and 19% of voters identifying as crypto investors—including a notable share of Democrats—the lawmakers believe the party needs to realign its policies.
READ MORE: HSBC Australia Blocks Payments to Crypto Exchanges Over Scam Concerns
The group suggests that the Democratic Party should emphasize the benefits of digital assets and consider selecting a vice-presidential nominee with a strong background in crypto policy. They also recommend appointing a more progressive SEC to handle digital assets and developing regulatory frameworks that both protect consumers and encourage innovation.
With Vice President Kamala Harris potentially stepping into a more prominent role, the Democrats see an opportunity to influence crypto policy positively. They are pushing for early engagement with digital asset experts to craft effective and balanced regulations.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
