The America Loves Crypto tour concluded its final event in Washington, D.C. yesterday, drawing a maximum capacity crowd at the Black Cat music venue. Key speakers included Coinbase CEO Brian Armstrong, ConSensys CEO Joseph Lubin, and Congressman Wiley Nickel (D-NC), who emphasized the importance of bipartisan support for cryptocurrency in America as the country approaches the 2024 election.
During the event, Armstrong and Congressman Nickel highlighted the need to nurture cryptocurrency innovation in the United States. Nickel pointed out that 20% of American adults own some form of cryptocurrency, underscoring the potential influence this demographic could have on elections. He stressed the importance of approaching cryptocurrency regulation in a bipartisan manner to avoid polarization in Washington.
The event also shed light on the evolving perception of cryptocurrency in the political landscape. Armstrong recalled a time when many in Washington were unfamiliar with crypto, but now it has become a widely recognized and discussed topic. However, some attendees expressed concerns about the Democratic Party’s stance on crypto, citing instances where regulatory decisions seemed to hinder industry growth.
One anonymous executive from a financial institution criticized the Biden administration’s veto of legislation that would have allowed regulated financial institutions to custody digital assets. They noted that despite the crypto industry’s financial contributions to political campaigns, there is still a lack of respect and understanding from policymakers.
The America Loves Crypto tour aimed to combat the stigma surrounding cryptocurrency through a combination of live music and community engagement. The event concluded with a performance by The Chainsmokers, who are known for their involvement in tech and crypto ventures. The duo’s outspoken support for crypto aligns with the tour’s mission to mobilize the Stand With Crypto movement, which boasts over 1.4 million advocates nationwide.
Throughout stops in various states, including Arizona, Nevada, Michigan, Wisconsin, Pennsylvania, and Washington, D.C., attendees of the America Loves Crypto tour expressed optimism about the potential impact of the crypto community in the upcoming election. The event served as a platform to advocate for bipartisan cooperation in shaping cryptocurrency policies and ensuring the industry’s continued growth in the United States.