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Digital Chamber Calls on Kamala Harris To Take Pro-Crypto Stance – Crypto News

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1 year ago

July 22, 2024

Dripp

Blockchain trade association, The Digital Chamber has called on the United States Vice President, Kamala Harris to take a pro-crypto approach. This follows President Joe Biden’s decision not to proceed with the Democratic nomination backing Kamala Harris. Industry executives continue their push for pro-crypto rules.

Digital Chamber Pitches Crypto Stance for VP Harris

The digital chamber has urged the U.S. Vice President and potential Democratic nominee to take steps closer to the industry. In a recent letter penned to Kamala Harris, the group seeks a forward-looking approach to blockchain and crypto assets. According to the letter, the sectors hold an enormous potential for economic growth, innovation, and financial inclusion.

Over 50 million Americans have embraced digital assets, seeing them as a means to democratize finance, spur innovation, and create new economic opportunities. Data shows that digital assets are being adopted at higher rates among Black and Latino Americans and immigrant communities, key constituencies of the Democratic Party compared to traditional financial products.”

Furthermore, the digital chamber added that crypto assets do not just embody financial instruments but become a regulatory shift to boost transparency, and lower fraud amongst others. Particularly, the blockchain called on Harris for three main points which include advocating the inclusion of pro-digital asset language in the party, selecting a VP candidate who has a track record in vehicle policy, and engaging with industry leaders.

This Biden administration has been described as anti-crypto leading to several industry leads backing Donald Trump ahead of the elections.

Also Read: Spanish Banking Giant Unicaja Invests In This Crypto Exchange

Industry Executives Push For Positive Regulations

This letter by Digital Chamber marks another step industry leaders and groups have taken to achieve regulations and support for the market. In the last two years, the proliferation of lawsuits by the Securities and Exchange Commission (SEC) against digital asset firms has been criticized by crypto holders.

This led to the formation of Super PACs ahead of the U.S. election to sponsor pro-industry candidates. However, sentiments might have changed among legislators following the progress of the FIT 21 bill and attempts to overturn SAB 121 which makes it difficult for institutions to become crypto custodians.

Also Read: Michael Saylor Highlights Bitcoin Supremacy Over S&P 500