As a long-time crypto investor with a keen interest in following political developments within the digital asset industry, I find myself growing increasingly frustrated by the apparent lack of support from Democratic leaders. Kamala Harris’s policy priorities, which fail to acknowledge cryptocurrency, and Chuck Schumer’s bipartisan legislative agenda that excludes it as well, are concerning signs that the current administration may not be as crypto-friendly as they claim.
Parts of the cryptocurrency community allege that democratic leaders are merely offering empty promises regarding their support, without providing any tangible assistance.
This aligns with Kamala Harris’s policy agenda, neglecting the topic of cryptocurrency, as well as Chuck Schumer’s letter to senators detailing crucial bipartisan bills, which likewise ignored this matter.
Harris’s Policy Fails to Mention Crypto
This morning, Vice President Kamala Harris unveiled an official policy declaration. Contrary to rumors suggesting a pro-cryptocurrency position, she focused on matters related to Artificial Intelligence (AI), without acknowledging or indicating support for the digital asset sector.
In a blog post dated September 9th, Alexander Grieve, Vice President of Government Affairs at Paradigm, emphasized that Vice President Kamala Harris has unveiled her key policy areas. While artificial intelligence is included in the list, cryptocurrency was noticeably absent once more.
In a follow-up post referencing a line from Harris’s statement about “other cutting-edge industries of the future,” Grieve noted that some might argue this is a placeholder for crypto.
As an analyst, I find myself facing challenges in upholding my support for an industry when the current administration, in which Vice President Harris plays a role, has yet to present any positives.
Chuck Schumer Faces Backlash
Senate Majority Leader Chuck Schumer is under fire due to his omission of digital assets from his recent bipartisan legislative plan. In a recent communication to colleagues, Schumer highlighted several priority areas for the Senate in the near future such as rail safety, insulin pricing, and AI, but failed to address crypto. Fox News journalist Eleanor Terrett brought this oversight to light on X, stating her observation about the absent mention of cryptocurrency.
Senator Schumer penned a note to his fellow senators outlining key areas they should focus on to pass bi-partisan bills during the rest of Congress’s term. While cryptocurrency regulation wasn’t specifically addressed, he did highlight the importance of considering legislation related to artificial intelligence.
This stands out because he had made similar remarks during the “Crypto4Harris” rally, which was held to garner support from the community before the November elections. At this gathering, the senator emphasized the necessity of passing bipartisan cryptocurrency legislation by the end of 2024.
He emphasized that it’s crucial for the U.S. not to be bystanders in the advancement of digital assets, as failing to act could result in other nations taking the lead. He expressed optimism that such legislation can be passed, striking a balance between fostering growth and implementing fair regulatory measures.
Insufficient action by the Democrats has sparked critique from their community. A user on platform X expressed, “Those who believe Kamala is sympathetic towards cryptocurrencies should remain economically struggling, as she’s been completely silent on the matter.” Another observed that they merely pay lip service to the issue.
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2024-09-09 23:30