The political landscape is taking shape as the 2024 elections approach, and the crypto community is keenly observing the positions of major parties on digital assets.
Scott Melker, host of The Wolf of All Streets podcast, recently discussed this with Aaron Arnold, Host Altcoin Daily. The conversation centered on the glaring omission of cryptocurrency from the Democratic Party's platform, a sharp contrast to the Republican stance.
Melker kicked off the discussion by pointing out the stark differences between the two parties. While Republicans have openly embraced crypto, including direct mention of defending the industry in their party platform , the Democrats have yet to even mention it in their platform. This omission raises questions about the party's approach to an industry with millions of U.S. investors.
Aaron Arnold expressed disappointment but not surprise at the Democrats' exclusion of crypto. He noted that Kamala Harris, who is now central to the Democratic campaign, has shown little to no interest in advocating for bitcoin or other digital assets. This continuation of the Biden administration's stance could signal ongoing resistance to the crypto industry from the current Democratic leadership.
Melker then acknowledged that while some may hold out hope that the Democrats will eventually address crypto, it aligns with the administration's past four years. He highlighted the potential electoral impact of this issue, especially given the growing number of crypto holders in the U.S. Whether or not the Democrats will adjust their stance as the campaign progresses remains to be seen, but the contrast between the two parties is clear.
Farther down the ticket, pro-crypto Democrats have begun to emerge in local races. There are a number of key Senate seats up for grabs, and in Congressional races, the pro-crypto super PAC Fairshake is supporting candidates from both parties. This week, pro-crypto Democrat Yassamin Ansari, who garnered $1 million in support from Fairshake, narrowly edged out a win .
Democratic Congressman Wiley Nickel (D-NC) has continued to voice his prediction that the Harris campaign will shift pro-crypto as election season continues . Pro-crypto Democrats recently rallied for Harris in a "Crypto4Harris" virtual town hall. Many in the industry remain skeptical.
As the political battle lines are drawn, the crypto community will be watching closely, with many questioning how these positions could influence the future of digital assets in the United States.
