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Democrats Pushing Harris Campaign for 'Reset' on Crypto Stance, House Rep Says
Democratic members of Congress wrote a letter to the Democratic National Committee asking for it to embrace pro-crypto policy.
U.S. Vice President Kamala Harris “understands” crypto and may embrace it as an issue in her nascent campaign for the White House, Rep. Wiley Nickel (D-NC) said at the Bitcoin Nashville conference on Saturday.
"We had a total reset of the presidential election," Nickel said, adding "we’ve been working hard to get a reset from Vice President."
STORY CONTINUES BELOW
The comments come as twenty-eight democratic officials, including a dozen or so members of the House, pressed party leaders for a "reset" on crypto policy, Nickel said. Some factions of the party are pressing the Harris campaign to come out in favor of crypto, Nickel said.
Crypto continues to emerge as a campaign issue in the 2024 election, which has already been flooded by tens of millions of fundraising dollars from industry leaders. Democrats have fallen well behind former President Donald Trump’s promise to be friendly to Bitcoin and crypto proponents that bristled at President Joe Biden’s administration and heavy-handed financial regulators.
But Trump once himself bristled at crypto: he called bitcoin a "scam" when he last held the White House from 2017-2020. Onstage Nickel needled Trump for this policy flip-flop, promoting hearty boos from the packed convention hall peppered with red MAGA hats. Trump is scheduled to speak later in the day.
This is a developing story.
Danny Nelson
Danny was CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
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Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access
A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.
What to know:
- Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
- JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
- The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
