In a recent letter addressed to Vice President Kamala Harris, the Digital Chamber emphasized the significant potential of digital assets and blockchain technology in driving innovation, economic growth, and financial inclusion. The Chamber raised concerns about the cautious approach of the Biden/Harris Administration towards digital assets, which has led to a public perception that the Democratic Party is anti-crypto.
Despite support for the industry from key Democratic leaders such as Senate Majority Leader Chuck Schumer and Speaker Emerita Nancy Pelosi, the Chamber argued that the current viewpoint does not align with the party’s progressive and inclusive values. By highlighting the fact that over 50 million Americans have embraced digital assets as a means to democratize finance and create new economic opportunities, the letter urged Harris to take steps to amend the public perception.
The Chamber emphasized that digital assets and blockchain technology are revolutionary tools that can enhance transparency, reduce fraud, and create a more inclusive financial system. It pointed out that these technologies are increasing opportunities for key Democratic Party constituencies, with higher adoption rates among Black and Latino Americans and immigrant communities compared to traditional financial products.
In order to reaffirm US leadership in the global digital economy, the trade body stressed the importance of the Democratic Party championing these innovations. It recommended that the party’s platform reflect the potential benefits of digital assets and blockchain technology, and urged Harris to advocate for the inclusion of pro-digital asset language in the party’s platform.
The letter also suggested that Harris select a vice-presidential candidate with expertise in digital asset policy, such as Colorado Governor Jared Polis, who has a track record of engaging with digital asset technology. The Chamber called for dialogue between Harris and leaders in the digital asset and blockchain industry to discuss policies that support and nurture these technologies, ensuring consumer protection and financial stability while encouraging growth.
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