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Insiders are hoping for a possible mention in the Biden-Trump debate
This US presidential election was the first in which cryptocurrencies have emerged as a major political issue, and the industry is lobbying for (and preparing for) the possibility that President Joe Biden and former President Donald Trump might raise the topic when they face each other in a Debate on Thursday.
To this end, cryptocurrency advocacy group Support cryptocurrencies organize an online letter-writing campaign to get CNN hosts to bring up cryptocurrencies as a talking point. A spokesperson for the group said Wednesday that nearly 2,300 people had signed and submitted the notes “asking a question about cryptocurrencies.”
“It would be a huge mistake for CNN to use this opportunity to let Americans know where the presidential candidates stand on this important economic issue,” spokesperson Sabrina Siddiqui told CoinDesk. She pointed out that the group number of members in Georgia, where the 9pm EDT (01am UTC) event will take place, far exceeds the gap between candidates in the previous 2020 contest.
Stand With Crypto’s letter concludes: “Giving major presidential candidates a chance to weigh in on this transformative technology in the first debate would go a long way toward educating the electorate and helping American cryptocurrency owners vote with knowledge.”
Biden’s record on digital assets is familiar to the industry, which only needs to review his executive orders, White House statements and the actions of U.S. regulators he appointed, including the U.S. Securities and Exchange Commission. The Trump administration has made no significant inroads into the cryptocurrency space, and its past stance of skepticism has only recently shifted to glowing support for the technology.
“It is notable that we are discussing cryptocurrencies as a possible topic on the biggest stage of presidential politics – and an indicator of how much progress the industry has made in communicating its value to the national political debate,” said Kristin Smith, CEO of Blockchain. Association, in an emailed statement: “The cryptocurrency industry – and its growing user base – looks forward to a sustained debate between the candidates on their approach to digital assets and feels excited that it has emerged as a important topic in this election.”
Trump has emerged as a strong supporter of US cryptocurrency mining and an opponent of the US issuing a central bank digital currency (CBDC), seeking to counter Biden’s efforts to tax miners and l his administration’s interest in studying CBDCs.
“We appreciate that the candidates recognize the importance of not only discussing how to regulate digital assets, but also how to create responsible regulation that does not stifle innovation in the United States,” said a spokesperson for the DeFi Education Fund.