Significant support on both sides for crypto bill

Founder and CEO of the blockchain trade association Digital Chamber, #Perianne Boring, highlighted how relevant it was that Congress passed H.J.Res. 109 with such solid support. 

Boring explained how the controversy related to SAB 121 caused 21 Democratic Senators to break rank and support the bill, concluding with 12 Democratic Senators’ votes.

She highlighted how #ChuckSchumer was among the supportive Democratic Senators’ votes. Boring pointed out as a relevant fact that “Schumer is the Senate majority leader and the second most powerful person in the country, only second to President Biden."

The former congressional staffer and television anchor described how the Democrats’ support should have felt like a “watershed moment” for the Biden administration. She claimed that Schumer’s support could force the White House to “rethink its strategy and position.” In her opinion, “the tides are turning for crypto in Washington.”

The Biden administration may feel pressure beyond the political sphere as the crypto community is not the only sector wishing Biden would sign the H.J.Res. 109. The American Bankers Association has openly urged “President Biden to move quickly to sign this resolution into law to help protect American consumers.” 

The banking sector has an economic incentive to offer custody services for cryptocurrencies, as the banks also want their piece of the pie from the ongoing retail crypto adoption.

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🚨 Senator Chuck Schumer’s Latest Move Leaves Crypto Out of the Bipartisan Agenda 🚨

Senator Chuck Schumer’s recent “Dear Colleague” letter has left cryptocurrency off the latest bipartisan agenda, despite his earlier comments at the “Crypto4Harris” town hall. Schumer had expressed optimism about passing a bipartisan crypto regulation bill by year-end, aiming to balance innovation with common-sense guardrails.

During the Crypto4Harris event—organized by Vice President Kamala Harris’s supporters—Schumer emphasized the need for the U.S. to stay competitive and not let crypto go overseas. He had committed to getting a crypto regulation bill through the Senate and into law by December.

However, his latest letter has sparked criticism from the decentralized community. Some argue that the Biden-Harris administration shows a lack of genuine commitment to crypto issues, with frustrations voiced on social media about the administration's actions versus their rhetoric.

Despite the setback, Harris's campaign still accepts crypto donations via Coinbase. Yet, cryptocurrency and blockchain remain absent from her official website, reflecting the administration’s cautious approach to digital assets.

Backing from pro-crypto Democrats like Mark Cuban and Chris Larsen hasn't translated into momentum in the betting markets, where odds are leaning towards Trump.

Stay tuned for more updates as this political and crypto drama unfolds! 📉💬

#CryptoPolicy #ChuckSchumer #KamalaHarris #Crypto4Harris #Binance
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