While cryptocurrencies have been in the eye of the storm in the race for the White House, the notable absence from the recent unveiling of the Democratic Party’s latest platform ahead of the Democratic National Convention has dampened the industry’s enthusiasm.
the documentBut the new bill, unveiled amid heightened anticipation, noticeably omits any mention of Bitcoin or digital assets, indicating a void in official discourse that many had hoped would be addressed.
Vice President Kamala Harris’s ‘Crypto Reset’ Explodes
like Reported There has been much speculation about a potential shift in the Democratic Party’s stance on the crypto industry, especially under the potential influence of presidential candidate Kamala Harris.
There was a group anticipationMeanwhile, Democratic senators are backing a crypto reset, a move that would likely change the regulatory landscape, especially in light of the crackdown on the industry during the current Biden administration.
Under the leadership of Gary Gensler At the SEC, the industry has weathered a storm of lawsuits and regulatory challenges, including the controversial “Operation Choke Point 2.0,” an alleged effort to sever ties between the industry and the U.S. banking system.
Under these troubling circumstances, there was hope that Harris could bring a more positive approach. But the silence in the party platform seems to contradict these optimistic expectations.
Harris Relies on Anti-Bitcoin Advisors
Democratic Rep. Ro Khanna of California expressed optimism about a potential party shift on crypto issues. In an episode of the Unchained podcast, he said: planned Five key points to consider in the Democratic Party platform.
These proposals included maintaining the United States as a hub for the cryptocurrency industry, ensuring fair banking practices for cryptocurrency companies, allowing banks to hold digital assets, establishing clear regulatory boundaries between the Securities and Exchange Commission and the Commodity Futures Trading Commission, and even considering Bitcoin as a reserve asset. Unfortunately, none of these proposals made it to the official platform.
Adding to the concern within the crypto community, Recent discoveries She noted that Vice President Harris is consulting with advisers seen as anti-cryptocurrency to shape her economic strategy.
Figures like Brian Dees and Bharat Ramamurti, who played a key role in crafting the Biden administration’s strict cryptocurrency regulations, have been identified as key influencers.
Deepening division in the cryptocurrency world
In an attempt to reach out to the community, Democrats organized a town hall called “Crypto4Harris,” where they called for what they called “sensible regulation” of cryptocurrencies. Despite this,Critical issues such as Operation Choke Point 2.0 and the right to self-confinement were absent from the dialogue, leaving attendees frustrated About the party’s real agenda.
Meanwhile, the Republican Party, led by former President Donald Trump, has taken a very different approach by openly endorsing the creation of Bitcoin and digital assets and opposing the development of a cryptocurrency. Central Bank Digital Currency (CBDC).
but, Polly Market’s odds for a Harris vs. Trump win remained unchanged after the Democratic platform was unveiled.with Harris holding a 51% chance to Trump’s 47%.
At the time of writing, Bitcoin briefly reclaimed the $59,000 level, having failed to settle above the $60,000 barrier over the past week.
Featured image by DALL-E, chart by TradingView.com
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