The upcoming ABC presidential debate is set to feature a critical question on crypto regulation, thanks to the advocacy of the Chamber of Progress, a technology industry coalition supporting digital innovation. In a letter addressed to moderators Linsey Davis and David Muir, the organization emphasized the increasing significance of digital assets in the US economy and urged for transparency on the candidates’ positions.
With over 18 million Americans currently involved in crypto trading and investment, the Chamber of Progress highlighted the urgency of addressing digital asset policy in the first debate between Vice President Kamala Harris and former President Donald Trump. The letter stressed the importance of informing voters about the nominees’ stance on crypto before the November elections.
The letter also pointed out the rising adoption of cryptocurrencies across various demographics. Recent polls show that one in five Americans has engaged in crypto activities, with data from the Kansas City Federal Reserve indicating that Black investors are more inclined towards holding crypto compared to traditional stocks or mutual funds. This underscores the importance of crypto policy as a key issue for underrepresented communities.
Moreover, Gen Z and Millennial voters are particularly interested in digital asset policy, with a majority supporting a federal approach that encourages crypto use in the US. As the 2024 election approaches, a significant portion of voters believe that increased regulation of digital assets is necessary, with some considering it a major factor in their voting decisions.
The letter also highlighted the evolving positions of the major candidates. While former President Trump has shifted from calling crypto a “scam” to actively courting crypto voters through his “crypto army,” Vice President Harris has shown openness to regulation that promotes industry growth while protecting consumers, as indicated by one of her senior advisors.
The Chamber of Progress emphasized the need for the candidates to articulate their strategies for balancing innovation and consumer protection in the crypto space. By including a crypto question in the September debate, voters can gain clarity on this important issue and make informed decisions at the ballot box.
With the increasing adoption of digital currencies and ongoing discussions on regulatory frameworks, the Chamber of Progress hopes that the upcoming debate will provide a platform for clear positions on the future of crypto in the US.