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Digital Chamber Calls on Kamala Harris to Take Pro-Crypto Stance
Blockchain industry association The Digital Chamber has called on U.S. Vice President Kamala Harris to adopt a pro-crypto approach. The move comes after President Joe Biden decided not to pursue the Democratic nomination supporting Kamala Harris. Industry leaders continue to push for pro-crypto rules.
Digital Chamber Defends Vice President Harris’ Position on Cryptocurrencies
The digital chamber has urged the US vice president and potential Democratic candidate to reach out to the industry. In a recent letter to Kamala Harris, the group seeks to take a forward-looking approach to blockchain and crypto assets. According to the letter, these sectors hold enormous potential for economic growth, innovation, and financial inclusion.
More than 50 million Americans have embraced digital assets, seeing them as a way to democratize finance, drive innovation, and create new economic opportunities. Data shows that digital assets are being adopted at higher rates among Black and Latino Americans and immigrant communities, key constituencies of the Democratic Party, compared to traditional financial products.
Additionally, the digital chamber added that crypto assets are not just financial instruments, but are a regulatory change aimed at increasing transparency and reducing fraud, among other things. In particular, the blockchain asked Harris to weigh in on three main points, including promoting the inclusion of pro-digital asset language within the party, selecting a vice presidential candidate with a proven track record on auto policy, and engaging with industry leaders.
This Biden administration has been described as anti-crypto, leading several industry executives to support it. Donald Trump before the elections.
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Industry leaders call for positive regulation
The Digital Chamber letter marks another step forward for industry leaders and groups to seek regulation and support for the market. Over the past two years, the proliferation of Securities and Exchange Commission (SEC) lawsuits against digital asset companies has been criticized by cryptocurrency holders.
This led to the formation of Super PACs ahead of the US elections to sponsor pro-industry candidates. However, sentiments may have changed among lawmakers following the advancement of the FIT 21 bill and attempts to overturn it
SAB 121 which makes it difficult for institutions to become cryptocurrency custodians.
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