In a recent letter to Vice President Kamala Harris, the Digital Chamber emphasized the urgent need for a forward-looking approach to digital assets and blockchain technology. The Chamber highlighted the transformative benefits of these technologies, stressing their potential for driving innovation, fostering economic growth, and promoting financial inclusion.
The letter expressed concerns about the cautious approach of the Biden/Harris Administration toward digital assets, which has led to a perception that the Democratic Party is anti-crypto. Despite support for the industry from key Democratic leaders such as Senate Majority Leader Chuck Schumer and Speaker Emerita Nancy Pelosi, there is a prevailing belief that the party is not fully embracing the potential of digital assets and blockchain technology.
Digital assets and blockchain technology have the power to revolutionize opportunities for key constituencies of the Democratic Party. With higher adoption rates among Black and Latino Americans and immigrant communities compared to traditional financial products, these technologies offer a way to democratize finance, stimulate innovation, and create new economic opportunities.
The Chamber argued that the Democratic Party should champion the benefits of digital assets and blockchain technology to reaffirm US leadership in the global digital economy. By showcasing the potential for enhanced transparency, reduced fraud, and a more inclusive financial system, the party can position itself as a proponent of innovation and progress.
To address the public perception that the Democratic Party is anti-crypto, the letter urged Vice President Harris to take concrete steps to advocate for the inclusion of pro-digital asset language in the party’s platform. It also recommended selecting a vice-presidential candidate with expertise in digital asset policy, such as Colorado Governor Jared Polis, to drive the conversation forward.
Furthermore, the Chamber called on Harris to engage in dialogue with leaders in the digital asset and blockchain industry. By fostering collaboration and discussing policies that support and nurture these technologies, Harris can gain valuable insights and help craft policies that promote growth while safeguarding consumer protection and financial stability.
Embracing digital assets and blockchain technology is essential for driving innovation, fostering economic growth, and promoting financial inclusion. It is imperative for the Democratic Party to adopt a forward-looking approach to these technologies to remain competitive in the global digital economy and uphold its values of progress and inclusivity.