With the US presidential election looming, cryptocurrency industry leaders, including Ripple CEO Brad Garlinghouse, are calling for a bipartisan approach to regulating cryptocurrencies. As the digital asset sector becomes a crucial issue for many voters, the question is gaining momentum in political debates.
A call to open-mindedness
Anthony Scaramucci: The need for a bipartisan vision
Anthony Scaramucci, former White House communications director, stressed the importance of maintaining a bipartisan approach. He indicated that this would be beneficial for the cryptocurrency ecosystem in the long term. In his view, Vice President Kamala Harris could offer a favorable outlook for the sector, despite past criticism of the Biden administration.
“Harris is open-minded about cryptocurrencies. She didn't make the crypto policy decisions in the Biden administration. Harris and Warren are not friends. Gensler will be fired and Warren will be sidelined as head of financial services in a Harris administration. Let's keep crypto bipartisan, it will be healthier for the ecosystem in the long run.”
Brad Garlinghouse: Don't judge by political affiliations
Brad Garlinghouse, CEO of Ripple, also expressed his support for evaluating candidates based on their policy proposals rather than their partisan affiliation. He noted that Harris' experience in Silicon Valley could lead to beneficial regulations and strengthen US competitiveness in the cryptocurrency sector.
“Jumping to conclusions and assumptions about candidates based solely on their political affiliation without any policy proposals is holding the cryptocurrency industry back.”
Adam Cochran: Working with all stakeholders
Adam Cochran, partner at Cinneamhain Ventures, criticized the crypto community for attacking Democrats despite their efforts to engage with the industry. He stressed the importance of collaborating with all parties willing to promote constructive policies for cryptocurrencies.
“We should continue to work with anyone who reaches out to try to advance constructive cryptocurrency policy on both sides of the political spectrum… and if all this industry gives in return is a cold shoulder, we give them no reason not to go work with anti-crypto people, or people captured by regulation.”
The current political context
Support for Trump
Many crypto industry leaders are backing Republican candidate Donald Trump, citing his pro-cryptocurrency stance as a boon to the sector's growth. However, this trend could change as the positions of the other candidates evolve.
Criticism of the Biden administration
The Biden administration has been criticized for its strict approach to crypto regulations. With Biden out of the running, the industry is closely watching the movements of Kamala Harris and her relationships with figures like Elizabeth Warren, known for her skepticism of cryptocurrencies.
Conclusion
The question of cryptocurrency regulations has become a major issue in the run-up to the 2024 US presidential election. Industry leaders are calling for a balanced, bipartisan approach to ensure the healthy and sustainable development of the sector. By remaining open and collaborating with all parties, they hope to foster fair and constructive regulations.
