Crypto4Harris Town Hall: Chuck Schumer Promises Pro-Crypto Laws
YEREVAN (CoinChapter.com) — Senator Chuck Schumer, Majority Leader of the United States Senate, announced at the Crypto4Harris Town Hall event that he aims to pass pro-crypto legislation by the end of the year if Kamala Harris is elected president. Schumer stressed that the U.S. can no longer afford to ignore the growing crypto industry.
“We cannot afford to continue to sit on the sidelines because then we risk crypto going overseas to lowest common denominator countries where there will be no regulation at all,”
Schumer stated.
Senator Chuck Schumer speaking at the Crypto4Harris event. Source: Crypto4Harris
Schumer pledged to work with both parties to ensure the United States remains a leader in innovation, particularly in the crypto space.
Democrats Rally for Pro-Crypto Policies at Crypto4Harris Event, Highlight Trump’s Past Criticism
The Crypto4Harris event highlighted the growing support among Democrats for pro-crypto policies. For instance, Senator Debbie Stabenow, who serves as Chair of the Senate Agriculture Committee, spoke about the importance of establishing a regulatory structure that both protects consumers and encourages crypto innovation. Additionally, she mentioned her ongoing work with the Commodities Trading Futures Commission (CFTC). The CFTC works to ensure that crypto assets are regulated as commodities, not securities.
Democratic Congressman Wiley Nickel also backed the crypto industry during the event. He pointed out that former President Donald Trump previously called crypto a scam. He highlighted the contrast between Trump’s past stance and his current attempts to appeal to crypto supporters.
Crypto4Harris Virtual Event Snapshot. Source: Crypto4Harris Town Hall Event webpage Democrats Advocate for Unified Crypto Policy at Crypto4Harris, Fundraising Efforts to Begin in September
Several prominent Democrats shared their perspectives on crypto policy at the event. Colorado Governor Jared Polis, Senator Kirsten Gillibrand, and Representatives Elissa Slotkin and Adam Schiff offered their views on how the Democratic Party could improve crypto policy in the United States.
SkyBridge Capital founder Anthony Scaramucci urged for bipartisan cooperation in shaping crypto policy. He called for less division within the crypto community and emphasized the importance of working together.
Crypto4Harris organizers plan to start fundraising in September to gather more support for pro-crypto policies within Harris’s campaign.
Cuban Slams Trump’s Crypto Stance at Town Hall
While Trump has promised to end what he calls “Joe Biden’s war on crypto” and make the U.S. the “crypto capital of the planet,” his earlier views on crypto have drawn criticism.
Trump Calls Bitcoin a Scam on Fox Business. Source: August Takala (@RudyTakala)
At the Crypto4Harris event, billionaire investor Mark Cuban criticized Trump and the Republican Party, accusing them of only caring about enriching themselves and crypto elites.
“Republicans couldn’t care less. They just want to see the Bitcoin maxis get richer,”
Cuban remarked.
The Crypto4Harris event is part of a broader effort to shift the Harris campaign toward a more crypto-friendly stance. Many believe Harris may continue the Biden administration‘s tough approach to crypto, making events like Crypto4Harris crucial in influencing her campaign’s direction.
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