Fourteen U.S. Congress members have urged the Democratic National Committee （DNC） to support cryptocurrencies and blockchain technology, highlighting their transformative potential and appeal to key voter demographics.
Points
- Congress members call for a pro-crypto stance from the DNC.
- Highlight the transformative potential of cryptocurrencies and blockchain technology.
- Emphasize the appeal of crypto to key voter demographics like Gen Z and minority communities.
A group of fourteen U.S. Congress members has sent a letter to the Democratic National Committee （DNC）, urging the party to adopt a more progressive stance on cryptocurrencies and blockchain technology. This initiative aims to align the party with the innovative potential of these technologies and appeal to important voter demographics.
Why the Letter Was Written
The authors of the letter argue that cryptocurrencies represent a revolutionary change capable of democratizing finance and fostering innovation. They highlight survey data indicating that over 52 million Americans have adopted cryptocurrencies, with higher adoption rates among Gen Z, Black, Latin American, and immigrant communities. These demographics are crucial voter bases for the Democratic Party, and the letter emphasizes the importance of appealing to these groups.
Criticism of the Current Financial System
The letter also critiques the existing financial system, asserting that it favors elites over ordinary people. It argues that cryptocurrencies and blockchain technology can enhance transparency, reduce fraud, and create a more inclusive financial system. The Congress members believe that supporting these innovations will help reaffirm the United States’ leadership in the global digital economy.
Concrete Actions Suggested
To align with this forward-looking approach, the letter suggests several specific actions for the administration:
– Incorporate pro-crypto language into the party platform.
– Select a Vice Presidential candidate knowledgeable in crypto asset policy.
– Appoint a pro-innovation SEC Chair.
– Engage with industry experts to foster a supportive environment for blockchain and cryptocurrency innovations.
The letter is signed by notable Congress members including Collin Allred, Nikki Budzinski, Angie Craig, Don Davis, Dan Goldman, Josh Gottheimer, Vicente Gonzalez, Ro Khanna, Jared Moskowitz, Wiley Nickel, Brittany Pettersen, Pat Ryan, Hillary Scholten, and Ritchie Torres, along with candidates Shomari Figures, Andrei Cherny, and Yassamin Ansari.
Explanation
- Fourteen Congress members have urged the D
C to adopt a pro-crypto stance, emphasizing the transformative potential of blockchain technology.
– The letter critiques the current financial system and highlights the inclusivity offered by cryptocurrencies.
– Suggested actions include incorporating pro-crypto language into the party platform and selecting knowledgeable candidates and leaders in the field.