According to a report by Tom Mitchelhill for Cointelegraph, yesterday, at a Crypto4Harris Town Hall meeting, Democratic Senator Chuck Schumer, Majority Leader of the United States Senate, expressed his commitment to advancing bipartisan pro-crypto legislation by the end of the year, contingent upon Kamala Harris winning the presidency. This meeting, organized by a grassroots group advocating for a shift in Harris’s campaign policies toward cryptocurrency, aimed to encourage a more favorable stance on digital assets.
Schumer underscored the increasing significance of cryptocurrency in the global financial landscape and warned of the risks of the U.S. lagging in innovation. He highlighted the necessity for the United States to actively engage with crypto rather than allowing the industry to move to countries with minimal regulation. Schumer argued that the U.S. should create a regulatory environment that both supports innovation and ensures protection for users, as the country cannot afford to ignore the growing influence of cryptocurrency.
He also emphasized the importance of bipartisan cooperation in the Senate to develop and pass legislation that would allow the U.S. to maintain its position as a global leader in technological innovation. Schumer framed this legislative effort as critical not only for fostering innovation but also for protecting national security and consumers from potential abuses within the crypto space.
Schumer’s remarks came at a time of uncertainty regarding Vice President Harris’s stance on cryptocurrency, as she has yet to make her position clear. This ambiguity has led many to speculate that she might continue the Biden administration’s cautious approach to digital assets. The Crypto4Harris advocacy group seeks to influence Harris’s campaign to adopt a more supportive position on cryptocurrency.
Other political figures also participated in the Crypto4Harris event, including Democrat Congressman Wiley Nickel, who expressed his support for the crypto industry, and Senator Debbie Stabenow, Chair of the Senate Agriculture Committee. Stabenow emphasized the importance of developing a regulatory framework that protects consumers while fostering innovation and advocated for regulating crypto assets as commodities under the Commodities Trading Futures Commission (CFTC).
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