While the Republican platform addresses cryptocurrencies and bitcoin, the Democratic Party’s latest platform remains silent on the issue. Adding to the noise, there is speculation that Kamala Harris’ campaign may be eyeing Gary Gensler, the current head of the U.S. Securities and Exchange Commission, for the role of Treasury Secretary.

New Democratic Platform Ignores Cryptocurrency Issues, Gensler Rumors Spread

Kamala Harris' rumored 'crypto reset' appears to be dead, at least in terms of the Democratic Party's official platform for the Democratic National Convention (DNC). The document omits any mention of blockchain technology, bitcoin, ethereum, cryptoassets, or anything related to the digital currency space. The document only briefly mentions technology and its initiatives, focusing primarily on the party's "Housing Innovation Fund" and climate change.

The platform refers to artificial intelligence (AI), acknowledging its “extraordinary potential” but emphasizing the risks, noting that AI can lead to “danger.” It also warns that AI is “being used to clone voices, commit fraud, institutionalize bias, and undermine democracy.” Additionally, a dubious report suggests that if Harris becomes president of the United States, she could appoint Gary Gensler as Treasury Secretary.

Gensler and the current SEC are unpopular in the crypto industry because the securities regulator has taken an enforcement-heavy approach. Between Gensler’s SEC and the Biden administration’s efforts to crack down on the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Treasury Department, including “Operation Choke Point 2.0,” many crypto veterans doubt Harris will change the Democrats’ stance on crypto.

Skepticism also surrounded Gensler's news source, the Washington Reporter. Journalist David Morris commented, "After some research, the 'Washington Reporter' is not a real news organization, it's run by GOP staffers. The author of the article is currently 'running for Congress' (ahem). This is not a news story, it's a political smear," he added. Despite doubts about the Washington Reporter's story, rumors about Gensler spread on social media, causing a storm of comments and reactions.

What do you think about the Democratic platform not mentioning cryptocurrency? Please share your thoughts and opinions on this topic in the comments section below.
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