The Digital Chamber urged Vice President Kamala Harris to undertake a forward-looking strategy to digital belongings and blockchain know-how, emphasizing their immense potential for innovation, financial progress, and monetary inclusion.
The Chamber highlighted the transformative advantages of those applied sciences in a letter despatched to Harris on July 22 amid her preparations to turn out to be the Democratic Presidential nominee after President Joe Biden bowed out of the race on July 21.
Altering the angle
The letter highlighted that the Biden/Harris Administration’s cautious strategy towards digital belongings has resulted in a public notion that the Democratic Social gathering is anti-crypto. It famous that the point of view has gained traction regardless of assist for the trade amongst key Democratic leaders, together with Senate Majority Chief Chuck Schumer and Speaker Emerita Nancy Pelosi.
The Chamber argued that this viewpoint doesn’t align with the Democratic Social gathering’s progressive and inclusive values and urged Harris to take steps to amend public notion. The letter emphasised that over 50 million Individuals have embraced digital belongings, viewing them as a method to democratize finance, spur innovation, and create new financial alternatives.
It additional said that these applied sciences are revolutionizing alternatives for the Democratic Social gathering’s key constituencies — highlighting greater adoption charges of digital belongings amongst Black and Latino Individuals and immigrant communities in comparison with conventional monetary merchandise.
Revolutionary instruments
The Chamber asserted that digital belongings and blockchain know-how are revolutionary instruments that may improve transparency, scale back fraud, and create a extra inclusive monetary system. It argued that the Democratic Social gathering ought to champion these improvements to reaffirm US management within the international digital financial system.
The commerce physique careworn the significance of the occasion’s platform reflecting the potential advantages of digital belongings and blockchain know-how and urged Harris to advocate for the inclusion of pro-digital asset language within the Democratic Social gathering’s platform.
The letter additionally advisable that Harris choose a vice-presidential candidate with experience in digital asset coverage, suggesting candidates like Colorado Governor Jared Polis, who has a confirmed observe document of partaking with digital asset know-how and proposing pro-innovation insurance policies.
The Chamber referred to as on Harris to have interaction in dialogue with leaders within the digital asset and blockchain trade. By doing so, she might talk about insurance policies that assist and nurture these applied sciences, offering worthwhile insights and serving to to craft insurance policies that encourage progress whereas guaranteeing shopper safety and monetary stability.