In a Rare Move, U.S. Presidential Candidates Discuss Cryptocurrency at Coinbase Event
In an uncommon occurrence, U.S. presidential candidates engaged in a detailed discussion on cryptocurrency-related issues during an event organized by Coinbase’s grassroots initiative, Stand with Crypto. The event took place on Monday at the New Hampshire Institute of Politics at St. Anselm College and featured Republican candidates Asa Hutchinson and Vivek Ramaswamy, as well as Democratic candidate Dean Phillips.
Ramaswamy Highlights Tornado Cash Case
Candidates delved into the specifics of the crypto industry, with Ramaswamy bringing up the Tornado Cash case in his opening remarks. He argued that penalizing an entire protocol or way of doing business, such as in the Tornado Cash case, is illegal and unconstitutional. Ramaswamy emphasized that code should be considered a form of speech.
Potential Legislation and Crypto Market Structure Bill
During the event, Phillips was asked about what crypto businesses should do while awaiting new legislation from the government. He expressed support for considering the FIT 21 bill, a crypto market structure bill that advanced over the House Financial Services Committee during the summer. Phillips acknowledged the importance of privacy in crypto but stressed that it should not be used for nefarious purposes.
Crypto Industry’s Future
Hutchinson stated that he believes cryptocurrency is here to stay and expressed his desire for the industry to flourish under his administration. To achieve this, he highlighted the need for rule clarification, continued consumer confidence, coding capabilities, and affordable energy.
Hot Take: Cryptocurrency Enters Presidential Campaign Discourse
The fact that U.S. presidential candidates are actively discussing cryptocurrency-related issues indicates its growing importance and recognition in mainstream politics. The candidates’ remarks on topics such as the Tornado Cash case and potential legislation demonstrate a need for thoughtful decision-making and regulation in the crypto industry. This engagement by political figures reflects the significance of cryptocurrency and its potential impact on the economy, privacy, and technological innovation.
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