Regulation
Letter from Congressional Democrats calls for crypto-friendly VP and SEC chair – DL News
- House Democratic members’ letter supports crypto-friendly party platform.
- The letter says current SEC Chairman Gary Gensler should be replaced.
- Vice presidential nominee should understand crypto policy, letter says
Fourteen Democratic members of the U.S. House of Representatives and numerous candidates have sent a letter to the Democratic National Committee and Vice President Kamala Harris, urging the party to take a forward-looking approach to digital assets and blockchain technology.
“This region holds immense potential for American innovation, economic growth and financial inclusion,” reads the letter, which was posted on X by Pierre Rochard, Vice President of Research at Riot Platforms.
The letter states that the public perception is that the Democratic Party has a negative view of digital assets, resulting primarily from the Securities and Exchange Commission’s hostile approach to “these transformative technologies.”
A new leader on the ticket, presumptive presidential nominee Harris, offers an opportunity to shift public perception to align with Democratic leaders, including Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi, who recently backed legislation supporting digital assets, the letter said.
After noting that 52 million Americans have embraced digital assets and that 20% of voters in key states have identified crypto as a major election issue, the letter continues: “It is critical that our party presents a compelling case to crypto voters while ensuring that consumers benefit from thoughtful and appropriate regulation.”
Democrats who sent the letter suggested that pro-digital asset language be included in the party platform and that a vice presidential candidate with deep knowledge of digital asset policy be selected.
They also called for a pro-innovation SEC chairman to be chosen to replace Gary Gensler, the architect of the agency’s current strategy of regulation through enforcement.
Finally, the letter suggested that the Democratic presidential candidate and the president engage with industry leaders to discuss policies to support and nurture technology.
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“We believe this technology is nonpartisan and that the Democratic Party should also champion these innovations to help reaffirm the United States’ position as a leader in the global digital economy,” he said.
The letter was made public as the Bitcoin 2024 event was taking place in Nashville, Tennessee, where former President Donald Trump was the keynote speaker SATURDAY.
Cryptocurrency Market Players
- Bitcoin is down 0.72% today at $67,467.40.
- Ethereum is down 1.03% today at $3,226.71.