A D.C.-based tech industry coalition called The Chamber of Progress is urging President Joe Biden to back bipartisan, pro-crypto policies in order to win over more young voters, given that over 18 million Americans are currently investing in cryptocurrency.
The Chamber of Progress is looking to the Biden administration to support “comprehensive cryptocurrency regulation” ahead of a bitcoin roundtable this month in order to win over millennial and Gen Z voters, citing the “pivotal moment” of the U.S. election cycle.
“A federal policy that promotes the use of digital assets in the United States is supported by more than half of those age groups,” the coalition wrote in a letter to President Biden on Tuesday.
According to data cited by the Chamber of Progress, over 50% of voters believe that additional crypto regulations should be implemented in the United States, and a fifth of voters consider crypto regulations to be “a major voting issue” in the 2024 election.
The coalition stated, “Investors and industry participants remain unsure of the regulatory framework for digital assets given your Administration’s rejection of these legislative proposals.” “And your rival in politics has noticed.”
“The previous president, Donald Trump, has taken advantage of the administration’s ambiguity to change his stance on cryptocurrencies and paint you as a rival to American technological leadership and economic advancement. The coalition issued a warning after learning that he had promised to court the cryptocurrency vote and had reportedly raised millions from investors and founders.
But the alliance gave Biden confidence that his campaign could still “win” by giving the cryptocurrency sector more regulatory clarity.
The largest cryptocurrency exchange in the United States, Coinbase, Circle, the company behind the well-known USDC stablecoin, Ripple, the creator of the Ripple token, and Meta, which formerly worked on the shelved stablecoin projects known as Libra and Diem, are among the coalition’s partners.
“The previous president, Donald Trump, has taken advantage of the administration’s ambiguity to change his stance on cryptocurrencies and paint you as a rival to American technological leadership and economic advancement. The coalition issued a warning after learning that he had promised to court the cryptocurrency vote and had reportedly raised millions from investors and founders.
But the alliance gave Biden confidence that his campaign could still “win” by giving the cryptocurrency sector more regulatory clarity.
The largest cryptocurrency exchange in the United States, Coinbase, Circle, the company behind the well-known USDC stablecoin, Ripple, the creator of the Ripple token, and Meta, which formerly worked on the shelved stablecoin projects known as Libra and Diem, are among the coalition’s partners.