Crypto trade association urges Kamala Harris to embrace digital assets

The Chamber of Digital Commerce, a leading blockchain trade association, has called on US Vice President Kamala Harris to “take a forward-thinking approach to digital assets.”

The Digital Chamber said it sent a letter to Harris on Monday. This comes just a day after outgoing US President Joe Biden withdrew from the upcoming 2024 elections and endorsed Kamala Harris as the Democratic Party candidate.

📢 We sent a letter this morning @VP with significant support requests #digitalwealth It is in the interest of the American people for Democrats to fully embrace this technology. @VP has a unique opportunity to lead this change. Here are our 3 key questions:👇 pic.twitter.com/9QkjQ1fxEx

— Digital Chamber (@DigitalChamber) July 22, 2024

“As you prepare to run for the Democratic nomination for President, we write to encourage you to take a forward-thinking approach to digital assets and blockchain technology. This area holds tremendous potential for innovation, economic growth, and financial inclusion,” the letter reads in part.

50 million Americans own crypto

Adopting a crypto-friendly stance and directing his party to give more support to the sector would reassure the more than 50 million Americans who own cryptocurrencies, the letter said, which is also important as the US aims to lead in this area.

“We hope that with your leadership, the Democratic Party can move toward a more supportive stance toward digital assets, in line with the expectations of millions of Americans who believe in the transformative power of this technology,” the Chamber of Digital Commerce wrote in its letter.

Biden’s ‘anti-crypto’ approach criticized

After US President Joe Biden announced his decision not to seek re-election for a second term on Sunday, cryptocurrency prices first fell slightly and then rose, sending Bitcoin above $68,000.

The market seems to have realized the potential of a new pro-crypto government after the election.

Biden has attracted a great deal of negative sentiment from the crypto community for much of his term in office, largely due to his administration’s negative and sometimes hostile approach to the industry, exemplified by the US House of Representatives’ recent vote to overturn the president’s veto of SAB 121.

Biden’s letter on Sunday comes after weeks of uncertainty following a disastrous debate against former President Donald Trump, who has taken a crypto-friendly approach over the past few months. In addition to attracting large donations from the crypto sector, Trump has also pledged to ensure a CBDC never happens. The former president also said Biden would end his “war on crypto.”

Trump is also expected to headline the Bitcoin 2024 convention in Nashville, Tenn., this weekend.