Cryptocurrency News
Sen. Chuck Schumer (D-NY), majority leader in the U.S. Senate, emphasized during a digital town hall meeting on Wednesday his commitment to passing crypto legislation by the end of the year.
“I believe Washington cannot ignore crypto, bury our heads in the sand, and do nothing,” Schumer stated during the Crypto4Harris livestream. “My aim is to have a bill approved by the Senate and enacted into law by year-end, and I am confident we can achieve that.”
Explaining the consequences of inaction, he warned that without regulation, crypto could move to countries with no regulations. He added, “I think we need to find a middle ground for crypto that encourages innovation while establishing sensible guidelines.”
The 90-minute livestream included various industry professionals, members of Congress, governors, and candidates, with some participants speaking live and others submitting pre-recorded comments.
The central theme of the event was to reset relations with Vice President Kamala Harris and any future administration, emphasizing that the crypto sector is not owned by any specific party.
Investor Anthony Scaramucci, founder of SkyBridge Capital, expressed the desire for bipartisan support for positive crypto regulations, stating, “We should keep this non-partisan and focus on the benefits of bipartisan regulation for the industry.”
Representative Wiley Nickel (D-NC) echoed this sentiment, emphasizing that digital assets and blockchain technology should not be viewed as partisan issues but rather as opportunities for bipartisan cooperation.
Some speakers took the opportunity to criticize the Republican party, with Mark Cuban highlighting the importance of crypto for everyone and accusing Republicans of indifference towards the industry.
Former President Donald Trump and his campaign have made promises to the digital asset industry, pledging various initiatives to support Bitcoin and address regulatory issues.
Despite political divisions, there are Democratic allies in the crypto space who are open to cooperation, and Vice President Kamala Harris’ team has shown a concerted effort to engage with the industry.
Edited by Sebastian Sinclair
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