The Chamber of Progress, a tech business coalition selling digital innovation, has urged moderators of the upcoming ABC presidential debate to incorporate a key query about cryptocurrency regulation.
In a Sept. 5 letter to hosts Lindsay Davis and David Muir, the group highlighted the increasing position of digital property within the U.S. financial system and referred to as for transparency within the candidates' positions.
The letter famous that greater than 18 million People presently maintain or commerce cryptocurrencies, making it a urgent problem within the 2024 election cycle, and confused the significance of discussing digital asset coverage within the first debate between Vice President Kamala Harris and former President Donald Trump.
The letter provides:
“Voters have a proper to know the place candidates stand on cryptocurrency earlier than heading to the poll field in November.”
Elevated recruitment
In keeping with the letter, cryptocurrencies are gaining recognition throughout demographics. Latest polls have discovered that one in 5 People have invested in, traded or used cryptocurrencies. Moreover, information from the Federal Reserve Financial institution of Kansas Metropolis reveals that Black buyers usually tend to maintain cryptocurrencies than conventional shares or mutual funds.
Black, Hispanic, and Asian adults within the U.S. make up 20% of cryptocurrency customers, making crypto coverage a key problem for underrepresented communities, the letter famous.
Moreover, polling information cited within the letter means that Gen Z and millennial voters are particularly serious about digital asset coverage, with greater than half of those teams supporting a federal strategy to selling cryptocurrency use in the US.
Because the 2024 election approaches, 52% of voters consider that larger regulation of digital property is critical, with one in 5 registered voters contemplating this a key problem when voting.
A transparent stance on digital property
The letter additionally highlights the shifting positions of the 2 main candidates. Former President Trump, who as soon as referred to as cryptocurrencies a “rip-off,” has since reversed course and is now actively wooing crypto supporters. The Trump marketing campaign has fashioned a “crypto military” aimed toward mobilizing supporters in favor of the introduction of digital property.
In the meantime, Vice President Harris has but to launch a proper cryptocurrency coverage agenda, however one in all her senior advisers just lately prompt she is open to laws that foster business progress whereas defending customers.
The letter stated candidates should clarify how they plan to steadiness fostering innovation with defending shopper pursuits.
“If a query about cryptocurrency is requested within the September debate, voters may get some much-needed readability on this vital problem.”
As adoption of digital currencies will increase and debates over regulatory frameworks proceed, the Progressive Chamber hopes that this dialogue will present a platform to take a transparent stance on the way forward for cryptocurrencies in the US.
