Crypto voters have become a new battleground for the 2024 presidential election, in a bipartisan shift that has taken Washington by surprise.
In May, the United States Congress voted in favor of two pieces of pro-crypto legislation for the first time, after years of political deadlock. Observers were struck by the support from leading Democrats who acted in opposition to direction from the White House.
Combined with last weeks approval of Ether ETFs, and pressure from the suddenly pro-crypto Donald Trump, pundits are now wondering if crypto voters not only have enough power to affect Novembers presidential election but if they already have.
The Democrats’ sudden position shift with the White House now saying its willing to negotiate on legislation suggests they could be trying to stem any loss of votes on the issue.
The issue came to the fore in the Senate on May 16, when a bipartisan coalition of 60 senators, including Democratic Majority Leader Chuck Schumer, voted to overturn a Securities and Exchange Commission rule known as SAB-121, which made it prohibitive for banks to hold cryptocurrencies on behalf of their customers.
