- Democratic House members’ letter backs a crypto-friendly party platform.
- Letter says that current SEC Chair Gary Gensler should be replaced.
- Vice presidential candidate should understand crypto policy, letter says.
Fourteen Democratic members of the US House of Representatives and numerous candidates sent a letter to the Democratic National Committee and Vice President Kamala Harris urging that the party take a forward-looking approach to digital assets and blockchain technology.
“This area holds immense potential for American innovation, economic growth and financial inclusion,” read the letter, which was posted on X by Riot Platforms’ Vice President of Research Pierre Rochard.
The letter said public perception is that the Democratic Party holds a negative view of digital assets, arising mostly from the Securities and Exchange Commission’s hostile approach to “these transformative technologies.”
A new leader of the ticket, presumptive presidential candidate Harris, offers an opportunity to change the public’s perception to align with Democratic leaders, including Senate Majority Leader Chuck Schumer and Speaker Emirata Nancy Pelosi, who have recently supported pro-digital asset legislation, the letter said.
After noting that 52 million Americans have embraced digital assets and 20% of voters in battleground states have identified crypto as a major election issue, the letter went on to say: “It is critical that our party presents a persuasive case to crypto voters while ensuring that consumers benefit from thoughtful and appropriate regulation.”
The Democrats who sent the letter suggested that pro-digital asset language be included in the party’s platform, and that a vice presidential candidate possessing sophisticated knowledge of digital-asset policy be selected.
They also asked that a pro-innovation SEC chair be chosen to replace Gary Gensler, the architect of the agency’s current regulation-through-enforcement strategy.
Finally, the letter suggested that the Democratic presidential nominee and chair engage with industry leaders to discuss policies to support and nurture the technology.
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“We believe this technology is non-partisan, and the Democratic Party should also champion these innovations to help reaffirm the US’s position as the leader in the global digital economy,” it said.
The letter was made public as the Bitcoin 2024 event took place in Nashville, Tennessee, where former President Donald Trump was the key speaker on Saturday.
Crypto market movers
- Bitcoin is down 0.72% today at $67,467.40.
- Ethereum is down 1.03% today at $3,226.71.
