Cryptocurrency News
Senate Majority Leader Chuck Schumer (D-NY) excluded crypto from a letter outlining the Senate’s priorities, focusing instead on AI.
Schumer’s letter addressed efforts to prevent a government shutdown as government funding nears expiration on September 30. Despite previously supporting crypto regulation, his recent letter emphasized rail safety, prescription drugs, and AI.
The contrast between the Democrats’ and Republicans’ stance on crypto is evident, with the GOP platform expressing support for mining Bitcoin and self-custody of digital assets. Meanwhile, Trump has made crypto-related promises during his campaign appearances.
While the Dems prioritize AI, there is growing support for cryptocurrency within political and business circles. Former Ripple Labs CEO Chris Larsen endorsed Kamala Harris for the 2024 presidential bid, underscoring this trend.
As the Senate reconvenes, Schumer emphasizes the need for unity and bipartisanship to address critical challenges. The future legislative priority for cryptocurrency remains uncertain as AI currently takes center stage in Washington’s policy agenda.
Edited by Stacy Elliott.
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