A significant number of Democrats have requested that the Democratic National Committee (DNC) modify its stance on cryptocurrency.
In an effort to encourage the Democratic National Committee (DNC) to endorse pro-crypto policies, more than a dozen Democrats in the House of Representatives, as well as numerous congressional candidates, composed a letter.
Lawmakers such as Josh Gottheimer (D-N.J.), Ro Khanna (D-Calif.), Wiley Nickel (D-N.C.), and Ritchie Torres (D-N.Y.) were at the forefront of the movement. The letter specifically requests that the DNC incorporate pro-crypto language into their official platform.
They also want a vice-presidential candidate who is pro-crypto and recommend that SEC Chair Gary Gensler be replaced with an individual who is more pro-crypto. At the Bitcoin 2024 event in Nashville, Tennessee, the legislators and candidates disclosed this strategy.
The current leadership, particularly Gary Gensler at the SEC, have damaged the party’s reputation in the world of crypto. The correspondence stated that:
“The current SEC’s approach to these transformative technologies is largely responsible for the public perception that the party holds a negative viewpoint on digital assets.”
The signatories are of the opinion that this negative perspective is inconsistent with the progressive and inclusive principles of the party. They view cryptocurrency as a nonpartisan matter. In their own words:
“We are of the opinion that this technology is nonpartisan, and the Democratic Party should also advocate for these innovations to reaffirm the U.S.’s status as the global digital economy’s leader.”
The recent actions of the Republican National Committee are presumably the reason for the demand for a change.
The Republicans have already incorporated pro-crypto language into their platform, arguing in favor of the right to mine Bitcoin and opposing the establishment of a digital currency in the United States by the central bank. Democratic legislators are determined to prevent their party from falling behind.
In the interim, Kamala Harris’s team is also implementing strategies. Her advisers have initiated discussions with prominent cryptocurrency companies, including Ripple, Circle, and Coinbase.
This outreach is perceived as an effort to “restore” the relationship between the Democratic Party and the crypto industry, which has and continues to demonstrate substantial support for Donald Trump.
Also Read: Kamala Harris’s ‘Crypto Guy’ Husband Influences Her Bitcoin Stance
