The 2024 Democrats’ Party platform just dropped, and guess what? Crypto is nowhere to be found.
Despite earlier buzz from some senior Democratic officials that Kamala Harris might change from Biden’s anti-crypto vibe, the party’s platform doesn’t mention crypto. Not even once.
The 91-page document talks about everything from “corporate greed” to housing and education, foreign policy, and U.S. geostrategic power.
Kamala has stayed completely quiet on the subject of crypto. This silence isn’t sitting well with industry advocates or political watchers.
A party divided on crypto
It’s not like crypto is some fringe issue anymore. With millions of Americans involved in it, either as investors, developers, or users, you’d think it would at least get a mention. But nope.
Some insiders are now questioning whether Kamala’s really committed to changing the party’s position on digital assets or if it’s all just talk.
Now, let’s talk about what’s going on behind the scenes. There’s a lot of internal drama within the Democratic Party when it comes to cryptocurrency.
On one side, you’ve got the pro-crypto folks who are pushing hard for the party to embrace the industry. They see blockchain as the future of finance and believe the U.S. should lead the way.
On the other side, there are the skeptics, like Senator Elizabeth Warren, who hates crypto more than likely anyone else on earth. Elizabeth and her crew have been pushing for stricter regulations, arguing that crypto poses risks to consumers and the financial system.
Kamala Harris
This tug-of-war within the party is causing some serious headaches for Kamala. She’s caught in the middle, trying to navigate these conflicting views while also shaping her campaign’s policies.
The result? A lot of indecision and no clear move on crypto. This internal conflict is likely a big reason why the party’s platform ended up ignoring crypto altogether.
Kamala’s silence might be a way to avoid rocking the boat too much before the election, but it’s leaving a lot of people in the crypto community frustrated.
Gary Gensler, the Chairman of America’s SEC
Another reason could be the pressure she’s facing from all sides. First off, there’s the competition. Donald Trump, her main rival, has been vocal about his support for crypto, and that’s putting the heat on Kamala to at least address the issue.
Then there’s Gary Gensler, the current SEC Chairman, who’s the main villain of the crypto industry with his strict, enforced regulations. Now Kamala is considering nominating Gary for Treasury Secretary if she wins the presidency.
This has only angered crypto lovers more. If Kamala does go through with this nomination, then her administration would be just as tough on crypto as Biden’s has been.