The Democratic Party’s election platform did not say “Bitcoin” once

The Democratic National Committee released its 2024 Party Platform on Sunday, a document detailing Democrats’ future policy priorities heading into the next election.

Unlike their Republican counterparts, the Democrats’ platform made no mention of the words Bitcoin, crypto or blockchain.

Democrats remain silent on Crypto

The ninety-two-page document touched on topics popular with Democratic voters, including reducing housing costs and fighting climate change.

He also prioritized making the wealthy and corporations “pay their fair share” — ending preferential treatment of capital gains by making investment income tax the same rate as wage income. This would hurt the pockets of all investors, including Bitcoin holders, a group that the Biden administration has already sorely disappointed.

Notably, the DNC platform was written and approved by its committee before Joe Biden dropped out of the 2024 presidential race and includes lengthy praise for his administration’s ongoing work.

However, this also means that the platform can tell us little about how the Democratic Party handles crypto under the Harris administration, as many suspect that the current vice president has a lighter touch on the industry than Biden does.

“Hopefully it will happen as written,” he said Fox Business reporter Elanor Terret on Monday. “It is unclear whether new additions will be made to reflect Harris’ positions.”

Is this a “pivot”?

Adam Cochran, a partner at Cinneamhain Ventures, is one such person, who believes the platforms’ utter silence on crypto is a silent sign of the party’s crypto “pivot” under Harris.

“For years we’ve had anti-crypto rhetoric, Warren calling for an ‘anti-crypto army,’ and the Treasury, OFAC, and the Fed suffocating by claiming that crypto is about money laundering,” Cochrane. he wrote on Twitter on Monday. “Crypto doesn’t need government documents to succeed. It needs a non-hostile environment.”

By contrast, the Republican Party platform released in July explicitly promised to end Biden and the Democratic Party’s anti-crypto crackdown. He also pledged to oppose the creation of a Central Bank Digital Currency (CBDC) and to protect the rights of Americans to hold and mine Bitcoin in self-custody.

Republican presidential candidate Donald Trump also appeared at the 2024 Bitcoin Conference promising to establish a national “strategic Bitcoin stockpile” and fire SEC Chairman Gary Gensler. His strong support has given him extensive vocal and financial backing from crypto leaders, including Kraken co-founder Jesse Powell and the Winklevoss twins.

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