Bitrabo Editorial
The Democratic Party unveiled its latest platform ahead of the Democratic National Convention without any mention of Bitcoin or digital assets, causing disappointment in the crypto industry.
Kamala Harris’ Impact on Crypto Policies questioned
Speculation had been circulating about a potential shift in the Democratic Party’s stance towards the crypto industry, particularly under the influence of Vice Presidential candidate Kamala Harris.
Despite hopes for a “crypto reset” under Harris’s influence to improve regulatory conditions, the document did not address these issues.
Harris Seeks Advice from Anti-Bitcoin Advisors
Reports suggest that Vice President Harris is consulting with advisors who are known for their anti-crypto stance, raising concerns within the crypto community.
Democratic Representative Ro Khanna’s proposed pivotal points for the party’s platform, including making the US a crypto industry hub and considering Bitcoin as a reserve asset, were not included in the official platform.
Crypto Community Reacts
The “Crypto4Harris” town hall organized by Democrats to discuss sensible crypto regulations left attendees disillusioned as key issues like Operation Choke Point 2.0 and self-custody rights were not addressed in the dialogue.
Republican Stance on Crypto
In contrast, the Republican Party, led by former President Donald Trump, openly supports Bitcoin and opposes the development of a Central Bank Digital Currency (CBDC).
The prediction market on a potential Harris versus Trump victory remained unchanged even after the Democratic platform’s release.
Bitcoin briefly reached $59,000 but failed to consolidate above $60,000 for the past week.
Image source: DALL-E, chart from TradingView.com