Crypto trade association urges Kamala Harris to embrace digital assets

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As a seasoned researcher with a background in technology and economics, I strongly believe that the U.S. Vice President Kamala Harris should adopt a forward-looking approach to digital assets and blockchain technology. Based on my extensive analysis of the current market trends and the growing interest in cryptocurrencies among Americans, I am convinced that this sector holds immense potential for innovation, economic growth, and financial inclusion.

The Digital Chamber, a prominent blockchain business organization, advises U.S. Vice President Kamala Harris to adopt a progressive stance towards digital assets.

On Monday, the Digital Chamber announced that they had penned a letter to Vice President Harris. This revelation followed closely on the heels of former U.S. President Joe Biden’s decision to withdraw from the 2024 presidential race and endorse Harris as the Democratic Party’s nominee on the previous day.

Having spent over a decade working in the technology sector, I strongly believe that embracing digital assets is essential for the future prosperity of our country and its people. This morning, I had the privilege of drafting a letter to Vice President @VP, outlining three key requests on behalf of the digital asset industry. These asks are not only in the best interest of the American people but also present an opportunity for the Vice President to spearhead this transformative change. Here’s what we’re asking for:

— The Digital Chamber (@DigitalChamber) July 22, 2024

Having worked extensively in the tech industry and witnessed the transformative power of digital assets and blockchain technology firsthand, I strongly believe that as you prepare to take the mantle of Democratic Presidential nominee, it is crucial that we embrace this innovative space. The potential for digital assets and blockchain technology to drive innovation, spur economic growth, and promote financial inclusion is immense. Let us not be left behind in this new digital age. Instead, let us lead the way in harnessing these technologies to create a more inclusive and prosperous future for all Americans.

50m Americans own crypto

According to the letter, advocating a favorable attitude toward cryptocurrencies and shifting her party’s stance in their favor would put the minds at ease of the over 50 million Americans who own crypto. It is also essential for the US as it aims to maintain its position as a leader in this emerging field.

“The Digital Chamber expresses optimism that under your guidance, the Democratic Party will shift its position to become more favorable towards digital assets. This stance resonates with the hopes and convictions of countless Americans who view this technology as a catalyst for change.”

Biden’s “anti-crypto” approach criticized

Upon U.S. President Joe Biden’s announcement that he wouldn’t run for a second term on a Sunday, cryptocurrency values experienced a minor dip and subsequently surged, pushing Bitcoin past the $68,000 threshold.

The market appeared to recognize the potential for a new pro-crypto government after the election.

During most of his tenure, Biden has received considerable criticism from the cryptocurrency community. This is primarily because of his administration’s unfavorable and at times confrontational stance towards the sector. An example of this can be seen in the U.S. House of Representatives’ recent decision to override the president’s veto on the SAB 121 bill.

As an analyst, I’ve observed that following a contentious debate with his predecessor, Donald Trump, President Biden wrote a letter last Sunday. The weeks preceding this communication were marked by uncertainty in the cryptocurrency sphere, with Trump adopting a more favorable stance towards crypto. This shift brought about substantial donations from the sector and a pledge to prevent the issuance of a Central Bank Digital Currency (CBDC). Furthermore, Trump vowed to put an end to Biden’s perceived hostility towards cryptocurrencies.

Trump is also expected to headline the Bitcoin 2024 convention in Nashville, Tenn., this weekend.

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2024-07-22 18:08