Democratic Party Platform Fails to Address Crypto Industry in 2021
The absence of any mention of Bitcoin or digital assets in the recent unveiling of the Democratic Party’s latest platform ahead of the Democratic National Convention has left many in the industry feeling discouraged.
VP Kamala Harris’ Influence on Crypto Industry Shift
Speculations were circulating about a potential change in the Democratic Party’s stance towards the crypto industry, especially under the potential influence of Presidential candidate Kamala Harris.
- The hope for a “crypto reset” was high among Democratic senators and industry players.
- Even under Gary Gensler’s leadership at the SEC, the industry faced challenges with lawsuits and regulatory issues.
Harris’ Close Advisors and Anti-Crypto Sentiment
Recent revelations suggest that Vice President Harris has been consulting advisors who are considered anti-crypto, leading to concerns within the industry.
Deepening Divide Within the Crypto Community
Despite efforts like the “Crypto4Harris” town hall, critical issues like Operation Choke Point 2.0 and self-custody rights were not addressed, causing disillusionment among attendees.
- The Republican Party, led by Donald Trump, has taken a more favorable stance towards Bitcoin and digital assets.
- The prediction market indicates a close race between Harris and Trump, despite the Democratic platform’s shortcomings in addressing crypto concerns.
Bitcoin briefly attempted to recover the $59,000 mark but struggled to consolidate above the $60,000 milestone in the past week.
Hot Take: Crypto Industry Disappointed by Democratic Platform Silence
While crypto has been at the eye of the storm in the race for the White House, a notable absence in the recent unveiling of the Democratic Party’s latest platform ahead of the Democratic National Convention has discouraged the industry.
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