Bitcoin did not dominate the Democratic National Convention this past week. From the main stage in Chicago’s United Center, none of the speakers said a single word about Bitcoin or any other cryptocurrency assets. You would have also been hard-pressed to overhear a single conversation about Bitcoin or cryptocurrency in any of the United Center’s halls.
Democrats are still a minority, however chose not to include Bitcoin or crypto in their official platform, some high-ranking Democrats did say this week that a Harris administration would be more pro-Bitcoin and pro-crypto than the Biden administration has been — though without offering specifics. Some Democrats also spoke out passionately at the satellite events of the conference about why their parties should embrace Bitcoin.
Wiley Nickel, Congressman (D-NC) a Bitcoin and crypto proponentHarris’s speech emphasized that she will approach the crypto industry differently than Biden.
“Vice President Harris has been working for and as part of the Biden-Harris administration, but now she’s coming into this campaign with her own positions on issues,” Rep. Nickel explained Bitcoin Magazine in an interview during the convention.
“A lot has happened in the last few week’s, so she’s [only now] starting to come out with policy positions. It’s not going to be an immediate process of her coming out with things she would do differently from President Biden, but she will have different positions on issues, and she will make those known,” He added.
On Wednesday, Bloomberg reported It is expected that if she wins, Harris’s senior campaign advisor for policy will present policies designed to help the crypto industry. Her senior advisor on policy spoke to a Bloomberg News Roundtable during the convention.
You can also find out more about the following: article touched on how Harris plans to engage with the cryptocurrency industry — though, again it didn’t offer any particulars on how she plans to do so. Harris is also quoted saying that she will be launching a cryptocurrency. “cut needless bureaucracy and unnecessary regulatory red tape” Encouragement is always welcome “innovative technologies” By offering “transparent rules of the road,” Though none of Harris’ quotes contained any direct reference to Bitcoin or crypto.
Rep. Nickel also did not provide any details on the policy Harris might adopt, as he stated that he was not authorized to speak in Harris’ name. He noted, however, the successes of the Crypto4Harris town hallMark Cuban and other crypto enthusiasts, including Senators Chuck Schumer, Kirsty Gillibrand, Debbie Stabenow, were present at an event on August 15th. They shared that the future of cryptocurrency is bright. “a real sense of momentum amongst Democrats on the issue.”
Rep. Nickel asked Bitcoin enthusiasts and those who use crypto to take heed of a warning.
“The anti-crypto names you hear are just totally invented by folks who are trying to damage her campaign,” Rep. Nickel said about rumors Harris bringing in the likes Brian Reese or Bharat Ramamurti who are economic advisors for the Biden administration. Operation Chokepoint 2.0The fold is back.
“I don’t [give] any credence to the weird names that you hear being thrown around for big jobs. I heard Gary Gensler for Treasury Secretary. I can tell you that there’s 0% chance that he would be able to be confirmed by the Senate,” He added.
“That one is not happening.”
Pro-Bitcoin/Pro-Crypto Democrats Speak At Satellite Events
An event was held in a University of Chicago building. Cleve MesidorExecutive Director the Blockchain Foundation A former Obama appointee and Director of Public affairs at Commerce’s Economic Development Administration, spoke in a session entitled “Democrats’ Path Forward On Digital Assets & Crypto.”
I am speaking at the DNC Convention in Chicago today!
This panel is a great opportunity for me to share my thoughts and experiences with other people. @ProgressChamber & @BusinessForwardIt also includes:@RepWileyNickel | @clydevanel | @JBSDC @paradigm| @KyleBligen
= Democrats' Path Forward On Digital Assets & Crypto = pic.twitter.com/WIYggp1V9o
— Cleve Mesidor (@cmesi) August 21, 2024
Mesidor gave her opinion on crypto’s importance, which was a marked departure from that of the notoriously anticrypto Democrats such as Sen. Elizabeth Warren (D-MA) You can also find out more about the following: Rep. Brad Sherman (D-CA).
“Senator Liz Warren and Congressman Brad Sherman are stuck in time,” Mesidor spoke on the panel.
“They are so determined to fight big money, so laser focused on hitting the big guys, that their blind spot is the fact that communities of color are the largest adopters of cryptocurrency. Black and Latino communities lead national adoption of this $2 trillion market,” She also added.
“Let’s be clear, consumer protection is important — we need guardrails. But if you don’t couple it with financial inclusion, you’re just saying to all of the communities who capitalized on bitcoin over the last 15 years — who made it something, who built products and services on blockchain — that you’re going to continue [supporting] policies to make sure they can’t continue to participate.”
Mesidor was a Latina who spoke with emotion, feeling that Democrats have missed one of the most important narratives surrounding Bitcoin and cryptocurrency. While acknowledging why Democrats might not be inclined to see the crypto industry in a positive light, Mesidor also explained the reasons for their reluctance.
“Democrats have PTSD,” In an interview conducted after the event, she revealed to me that.
“[They have] PTSD because decades ago the predatory lenders, as we call them today, came to them and said we were going to democratize finance. The internet was supposed to democratize us, right? It was supposed to be decentralized. And today, big tech is not diverse,” She also added.
Clyde Vanel of New York Assembly (D), also a lawmaker who belongs to the New York State Black Hispanic Hispanic and Asian Legislative Caucus.
Vanel was first introduced to cryptocurrency in the middle of 2010s. He was amazed at how this catalyzed the increase in. financial Inner city youth are savviness.
“I went to different high schools and there were high school kids [who owned crypto] using the same muscles that seasoned investors do, watching markets,” Vanel, a recounted story
“We had a convenience store in my neighborhood [that had a] Bitcoin ATM. I went to the convenience store and saw a line of young people buying different denominations of Bitcoin — amazing,” He added.
Vanel didn’t only enjoy seeing bitcoins being acquired by his constituents. financial The blockchain offers a viable alternative to conventional banking for his people, despite the benefits that they might have received from their investment. financial system, which some — including his own father — don’t trust.
“My dad never used a bank, never trusted a bank,” Vanel is a good example. “He used check cashing places.”
Vanel touched upon the use of Bitcoin and cryptocurrency for remittance payments.
“When he sent money to another country, he spent a lot of money doing so,” Vanel is still talking about his dad “What does it mean to make sure that we make it easier for people like him to transfer value?”
Vanel is happy to see Democrats begin to embrace Bitcoin.
“I’m very excited that this event is happening on the heels of this campaign to show the importance of financial inclusion [via] digital technology,” Vanel is a good example. “10 years ago, this wouldn’t have happened at the National Convention.”
Nearby the event that Mesidor spoke at, an occasion entitled CryptoDNC Bill Foster (D – IL), and Wiley Nickel, who was also present at the event, made appearances.
🎉 Announcement of new speakers
We're pleased to have @RepBillFoster As a speaker at our event next Chicago, Wednesday during 2024 @DemConvention
RSVP to your reservation now!
Register: https://t.co/mJzVzchfx2
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— CryptoDNC (@crypto_dnc) August 16, 2024
Rep. Nickel stated that not accepting crypto would be the same as not accepting the Internet two and half decades ago.
Are Democrats Really Serious?
Are the Democrats truly changing their tune about Bitcoin and cryptocurrency or are just trying to pander to voters with a single issue who might otherwise support Trump due his crypto-friendly stance?
Most Bitcoin and cryptocurrency enthusiasts seem to be asking this question. Many people are hesitant to believe the Democrats’ 180-degree turn on crypto because the Biden Administration supported Gary Gensler, the SEC chair. regulation by enforcement The crypto industry has been a focus of attention for the past three-and-a half years.
Rep. Wiley Nickel appears to be trying to convince the Democrats that “reset” Harris is listening to their crypto approach, but are they really heard? Can Assemblyman Vanel or Ms. Meridor make their voices heard loud enough for a possible Harris administration to listen?
It will be interesting to see what happens.
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Source: bitcoinmagazine.com