Shift

Rally

Donald Trump

Biden

<p>The <a href="https://www.thecoinrepublic.com/2024/04/14/crypto-executive-donated-to-john-deaton-oust-elizabeth-warren/">Digital Chamber</a> has requested that U.S. Vice President Kamala Harris support digital assets. They sent a letter to Harris after President Biden decided not to seek re-election in the next election, in 2024. This request is to make the Democratic Party seize the interest of the over 50 million American crypto owners.</p> 
<h2 class="wp-block-heading" id="h-digital-chamber-urges-harris-for-crypto-shift"><strong>Digital Chamber Urges Harris for Crypto Shift</strong></h2> 
<p>In a letter to <a href="https://www.thecoinrepublic.com/2024/07/22/poodlana-hits-2-million-as-biden-dropout-excites-bulls/">Kamala Harris</a>, the Digital Chamber outlined the opportunities for innovation, economic development, and financial inclusion. They said another reason is that the U.S. requires a forward-thinking strategy regarding digital assets. The letter said they had pinned their hopes on Harris to change the Democratic Party’s attitude towards cryptocurrencies.</p> 
<p>The letter noted that the policy would enhance confidence among American crypto investors and create the U.S. as the global leader in the blockchain industry. The Chamber asked Harris to remember the millions of Americans who want this technology.</p> 
<h2 class="wp-block-heading" id="h-crypto-prices-rally-amid-biden-s-exit"><strong>Crypto Prices Rally Amid Biden’s Exit</strong></h2> 
<p>When Biden announced that he would not contest the next election, cryptocurrency prices fell slightly. But the market quickly rebounded, and Bitcoin rebounded above $68,000. This reaction indicates hope that a pro-crypto government will emerge after the elections.</p> 
<p>During his time in office, Biden has attracted the ire of the crypto industry owing to his administration’s aggressive stance. The conflict between Biden and Congress was recently seen when the U.S. House overruled Biden’s veto on the <a href="https://www.thecoinrepublic.com/2024/06/01/president-joe-biden-vetoed-sab-121-h-j-res-109-secs-repeal/">SAB 121</a> legislation. On the other hand, Former President of the United States of America, Donald Trump, has been endorsed by the crypto sector and has vowed to block the issuance of <a href="https://www.thecoinrepublic.com/2023/11/20/cbdcs-have-potential-to-solve-financial-inclusion-ripple-executive/">CBDC</a>.</p> 
<h2 class="wp-block-heading" id="h-trump-to-speak-at-bitcoin-2024-conference"><strong>Trump to Speak at Bitcoin 2024 Conference</strong></h2> 
<p>The president’s recent activities have only helped elevate his position among cryptocurrency supporters. <a href="https://www.thecoinrepublic.com/2024/07/18/donald-trump-considers-dimon-for-treasury-amid-crypto-shift/">Donald Trump</a> has accepted large donations from the crypto space and declared that he would stop Biden’s “war on crypto;” Trump has even been announced as a speaker at the Bitcoin 2024 conference in Nashville.</p> 
<p>Such an approach has been prevalent among many crypto communities. The current administration under President Biden does not have the same level of focus on protecting digital assets as seen under the Trump administration. This will help to define the further evolution of the digital asset regulation sphere, in which he can play a crucial role.</p> 
<h2 class="wp-block-heading" id="h-digital-chamber-pushes-for-crypto-friendly-policies"><strong>Digital Chamber Pushes for Crypto-Friendly Policies</strong></h2> 
<p>The <a href="https://x.com/EleanorTerrett/status/1815372212301402133">Digital Chamber’s letter</a> is another attempt to lobby for sound policies. The SEC’s current legal battles against digital asset firms have been criticized. Some crypto holders have said such steps limit the industry’s possibilities and development.</p> 
<p>In response, industry leaders have created super PACs to support candidates favorable to the industry. This movement seeks to change the legal environment and forego policies to ensure they are more favorable. The changes in perception are seen in the journey of the<a href="https://www.thecoinrepublic.com/2024/05/21/expected-approval-of-fit21-bill-significant-move-in-crypto-space/"> FIT 21 bill</a> and the fight to repeal SAB 121.</p> 
<h2 class="wp-block-heading" id="h-crypto-regulation-hinges-on-upcoming-election"><strong>Crypto Regulation Hinges on Upcoming Election</strong></h2> 
<p>This letter from the Chamber to Harris can be considered a turning point for the Democratic Party. The party can find supporters among the population by stating a positive position on cryptocurrencies. This change could also improve the U.S.’s global digital assets market ranking.</p> 
<p>Harris’s possible nomination and the actions she would take after that may influence the further development of digital assets in America. The Digital Chamber still hopes her leadership will bring much-needed change and growth. The next election will be decisive for the further development of the regulation of cryptocurrencies.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/07/23/digital-chamber-asks-vp-harris-for-crypto-friendly-democratic-shift/">Digital Chamber Asks VP Harris for Crypto-Friendly Democratic Shift</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Digital Chamber Asks VP Harris for Crypto-Friendly Democratic Shift

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