Democratic Presidential Candidate Dean Phillips Criticizes Biden and Trump
Representative Dean Phillips, a member of the United States House of Representatives running against Joe Biden for the Democratic nomination in the 2024 presidential election, recently criticized President Joe Biden and former President Donald Trump for their positions on crypto.
Phillips Admits Lack of Knowledge
Addressing the Crypto Presidential Forum in New Hampshire on Monday, Phillips admitted he did not “know it all” about financial technology and cryptocurrency. However, he emphasized that there are currently “very few” individuals in Congress who possess a deep understanding of digital assets.
Criticism Towards Biden and Trump
The representative from Minnesota also blasted Biden and Trump as “absolutely not in positions to understand it [crypto].” He stated that they are not equipped to lead the country forward in this digital age.
Call for Balanced Regulation
Phillips called for balance regarding crypto regulatory actions, acknowledging that crypto has the potential to be positively transformative. He believes that the government should consider both regulations and the positive impact of crypto.
Congressional Dysfunction and Crypto Growth
Phillips highlighted the lack of action from Washington in fostering the growth of crypto as a symptom of Congressional dysfunction. He criticized members of Congress for prioritizing conversations with campaign contributors over serving the interests of the people.
Legislative Acts Delayed
Phillips mentioned legislative acts such as the Financial Innovation and Technology for the 21st Century Act, which has not undergone a full vote in the House due to delays caused by government shutdowns and a slow process in selecting a new House Speaker.
Presidential Candidates’ Views on Crypto
Phillips was the third presidential candidate to speak at the Crypto Presidential Forum. Republicans Vivek Ramaswamy and Asa Hutchinson also expressed their support for the crypto industry and its flourishing in America.
Hot Take: Dean Phillips Highlights Lack of Understanding in Crypto
Democratic presidential candidate Dean Phillips criticized both President Joe Biden and former President Donald Trump for their lack of understanding when it comes to cryptocurrency. Speaking at the Crypto Presidential Forum, Phillips admitted his own limited knowledge on the subject but stressed the need for more individuals in Congress who possess a deep understanding of digital assets. He called for balanced regulation, acknowledging the transformative potential of crypto. Phillips also criticized Congressional dysfunction and highlighted delays in legislative acts that could foster crypto growth. Overall, he believes that Biden and Trump are not equipped to lead the country forward in this digital age.
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