KEYTAKEAWAYS
- Crypto advocacy groups urge CNN to include digital asset questions in the presidential debate.
- Biden's and Trump's contrasting stances on cryptocurrencies could shape the future of the industry.
CONTENT
As cryptocurrencies emerge as a major policy issue in the U.S. presidential election, industry advocates push for digital assets to be addressed in the upcoming debate between President Joe Biden and former President Donald Trump.
In a historic first for U.S. presidential elections, cryptocurrencies have emerged as a significant policy issue, with industry insiders eagerly anticipating a potential mention during the upcoming debate between President Joe Biden and former President Donald Trump. The debate, scheduled for Thursday at 9 p.m. EDT (01:00 UTC) in Georgia, has become a focal point for crypto advocates seeking to bring digital assets to the forefront of national political discourse.
Stand With Crypto, a prominent advocacy group, has launched an online letter-writing campaign to persuade CNN, the debate host, to include crypto-related questions. The group’s spokeswoman, Sabrina Siddiqui, revealed that nearly 2,300 people had participated in the campaign, emphasizing the importance of addressing this economic issue on a national stage.
The cryptocurrency industry’s growing influence in politics is evident, with Kristin Smith, CEO of the Blockchain Association, calling it “remarkable” that crypto is being considered as a possible topic in presidential politics. This development underscores the industry’s progress in communicating its value to the national political debate.
Both candidates have distinct records on digital assets. President Biden’s stance is well-known to the industry, reflected in his executive orders, White House statements, and the actions of his appointed regulators, including those at the U.S. Securities and Exchange Commission. In contrast, Trump’s administration made few significant moves regarding crypto during his tenure. However, his initially skeptical position has recently shifted towards enthusiastic support for the technology.
Trump has positioned himself as a vocal supporter of U.S. crypto mining and an opponent of a U.S. central bank digital currency (CBDC). This stance contrasts with Biden’s efforts to tax miners and his administration’s interest in exploring CBDCs.
The crypto industry and its expanding user base are eager for a sustained debate between the candidates on their approach to digital assets. A spokesperson for the DeFi Education Fund expressed appreciation for the candidates’ recognition of the importance of debating not only how to regulate digital assets but also how to create responsible regulation that doesn’t stifle innovation in the United States.
As the presidential race heats up, the inclusion of cryptocurrencies in the debate could significantly impact the industry’s future and shape public perception of digital assets. With both candidates holding divergent views on crypto regulation and innovation, the upcoming debate may provide crucial insights into the potential trajectory of U.S. crypto policy in the years to come.
