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A range of Democrat politicians wrote a letter to the Democratic National Committee (DNC) on Friday, urging the party to pivot away from its anti-crypto policies. In the letter shared by the vice president of research at Riot Platforms Pierre Rochard on X, the Democrats advised the party to take a “forward-looking approach” to digital assets and blockchain technology. The letter noted: “This area [crypto and blockchain] holds immense potential for American innovation, economic growth, and financial inclusion.” According to the letter, despite Democrats like Nancy Pelosi and Chuck Schumer supporting pro-crypto legislation, the public largely sees the Democratic party as being anti-crypto. The letter attributed this negative public perception to the current Securities and Exchange Commission’s (SEC) approach to crypto regulation through litigation. “We believe this previous hostility does not reflect our Party’s progressive, forward-looking and inclusive values.” The Democrats stressed that this was an opportunity for Vice President Kamala Harris, as a “refreshed” presidential candidate, to change this negative public perception. Crypto has an outsized impact on potential electoral win Over 52 million Americans, or roughly 15% of the U.S. population, own crypto, according to a Coinbase survey. Recent polling data also shows that around 19% of voters have purchased crypto, of which 19% self-identified as Democrats and 18% as Republicans, while the remaining are independent. Additionally, the adoption of crypto is higher among Gen Z, Black and Latino Americans, and immigrants, all of which are key constituencies for the Democrats. Therefore, the letter noted: “From an electoral standpoint, crypto and blockchain technologies have an outsized impact in ensuring victories up and down the ballot.” This is especially true since crypto is “at the top of voters’ minds in swing states.” More than 20% of voters in key battleground states have declared crypto as a major issue in…

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Filed under: News - @ July 27, 2024 10:28 pm