The Democratic Party has only recently made public its program for the year 2024, and Bitcoin is conspicuously absent from its constituent pages. There is not a single mention of cryptocurrencies anywhere in the recently released 91-page document, despite prior rumors suggesting that Vice President Kamala Harris may move the party’s stance away from President Biden’s unfavorable view of cryptocurrency.
The platform addresses a wide range of issues, such as the greed of corporations, the reform of housing and education, the politics of foreign policy, and the strategic position that the United States plays in the international arena. The rapidly developing realm of digital currencies, on the other hand, is not addressed by this document.
Since Kamala Harris has not provided any remark on the topic of cryptocurrencies, those who advocate for the business as well as those who monitor politics have expressed feelings of unease and disappointment.
A Party at Odds Over Cryptocurrency Concerns
The millions of Americans who are involved in cryptocurrency in some way, whether as investors, developers, or consumers, make it anything from a fringe concern today. Still, the Democrats’ platform for 2024 fails to include it in any way.
When it comes to the question of whether or not Kamala Harris plans to alter the position that the party has on digital assets, there is an increasing level of resistance among party leaders.
The Democratic Party is engulfed in a complicated dispute about cryptocurrency behind the scenes. Some party members are pushing for the United States to take the lead in the blockchain revolution, seeing it as the wave of the future in the financial sector.
On the other hand, there are persistent naysayers, such as Senator Elizabeth Warren, who has an innate dislike for cryptocurrencies. Digital currencies, according to Warren and her supporters, present major dangers to both consumers and the banking system, and thus they should be subject to strict regulation.
Kamala Harris is having a lot of trouble due to this internal conflict. She is attempting to influence the policy of her campaign while being entangled in these competing ideologies. What is the outcome? The party’s program does not include cryptocurrency because of the lack of clear action on the matter.
Even while Kamala may be trying to avoid controversy in the run-up to the election by remaining silent on the matter, many in the crypto world are becoming more dissatisfied with her decision.
The fact that Kamala is under attack from all sides really makes matters worse. The pressure on Kamala to do something about cryptocurrencies has increased since her primary opponent, Donald Trump, has been vocal about his support for it.
SEC Chairman Gary Gensler is well-known in the cryptocurrency community for the strict rules he has imposed. If elected, Kamala would reportedly propose Gensler to the position of Treasury Secretary, which would further alienate crypto aficionados and suggest that her government will maintain Biden’s hard line on digital assets.
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