Highlighting the increasing significance of digital assets in American politics, several presidential candidates from the Republican and Democratic parties came together at the Crypto Presidential Forum to discuss their visions for the future of cryptocurrency in the U.S.
Crypto Takes Center Stage in Crypto Presidential Forum
In a historic event at St. Anselm College in New Hampshire, presidential candidates from both sides of the political aisle gathered on Dec. 11, 2023, for the first-ever Crypto Presidential Forum, organized by the Stand with Crypto Alliance and Coindesk. With the 2024 U.S. presidential election fast approaching, the event, which can be viewed in its entirety here, offered a unique platform for candidates to express their views on the burgeoning cryptocurrency industry and the current state of digital asset regulation in the United States.
First up was Republican candidate and former governor of Arkansas Asa Hutchinson with a clear message of support for the crypto industry, saying, “I want the crypto industry to flourish in America and that the United States will lead.” To accomplish this, he outlined four points: clarity of rules, consumer confidence, coding ability, and affordable energy.
Vivek Ramaswamy, another Republican hopeful, presented a comprehensive crypto framework centered on three core principles: the freedom to code, financial self-reliance, and protection from regulatory overreach. Criticizing the influence of unelected bureaucrats in agencies like the U.S. Securities and Exchange Commission (SEC), Ramaswamy argued that:
“The imposition of the regulatory state and its overreach on the crypto sector, isn’t about the crypto sector, it’s about an imposition of an agenda that threatens our constitutional republic itself.”
On the Democratic side, Rep. Dean Phillips of Minnesota pointed out the knowledge gap in Congress regarding blockchain technology and crypto. He stressed the importance of understanding these emerging fields to effectively legislate and regulate them. Phillips’ perspective seemed to echo a common critique leveled against people in Congress, that they are out of touch with modern challenges, especially those brought on by new technologies.
Ben Friedman, business development manager at Bitcoin.com, attended the event and praised the candidates for addressing pressing concerns from the crypto industry. Friedman said, “Vivek Ramaswamy’s approach to integrating crypto into national strategies was impressive, and his thoughts on a regulatory framework were articulated with remarkable clarity. Dean Phillips’ perspective on embracing blockchain innovation and positioning America as a leader in Web3 highlighted the event’s forward-thinking atmosphere.”
Overall, the event revealed a consensus among the candidates on the need for clear crypto regulations and a broader understanding of blockchain technology. The event represented a positive step in bringing crypto-related topics to the forefront of political considerations, suggesting that the next administration, regardless of its political affiliation, will likely pay closer attention to the growing digital asset landscape.
Which presidential candidate do you think has the best plan for crypto? Share your thoughts and opinions about this subject in the comments section below.
