The 90-page document makes no mention of cryptocurrency at a pivotal time in U.S. politics, despite Trump embracing the industry.
To the dismay of left-leaning crypto enthusiasts, the 2024 Democratic Party platform makes no mention of cryptocurrency in a 90-page program that lays out proposed policies ahead of the upcoming U.S. presidential election.
Instead, the document unveiled on August 18 outlines topics such as the party’s stance on issues like the Israel-Gaza conflict, securing the country’s southern border with Mexico, corporate greed, expanding the child tax benefit, and fighting climate change.
Cryptocurrency is completely absent, which came as a shock to pundits.
“This is so wild to me,” wrote Farokh Sarmad, co-founder of Rug Radio. “I know the Democrats hate crypto, but not mentioning it in the DNC Platform when Wall Street adopted Bitcoin and Ethereum via ETFs this year is crazy.”
He also pointed out that “plenty of Democrats voted in favor of FIT-21 as well,” referring to a bill that provides regulatory clarity and more consumer protections for the digital asset ecosystem to “thrive in the United States.”
“The DNC should have listened to the 27 Democrats who asked them to add Bitcoin to the party platform, unfortunately they did not,” tweeted Dennis Porter, CEO of the Satoshi Action Fund, a non-profit that lobbies for favorable Bitcoin legislation.
“Republicans continue to lead on the issue; however, I have hope our whole country will one day soon work towards a brighter bitcoin future together,” he added.
Democrats left crypto out of their manifesto barely a week after an online event dubbed Crypto4Harris hinted at a more favorable stance towards cryptocurrency from the party’s presumptive nominee and current Vice President, Kamala Harris.
However, she has been absent from the conversation, leaving many wondering what her position regarding the digital asset industry is, especially as she serves in a Biden administration that has proven itself vehemently anti-crypto.
And this uncertainty could also play against Harris in two ways – hindering crypto donations for her campaign, and a loss of support from pro-crypto voters.
Harris’s main rival, Republican candidate Donald J. Trump has embraced cryptocurrency on the campaign trail. He has vowed to fire SEC Chairman Gary Gensler, free Silk Road creator Ross Ulbricht, and claimed that he wants to keep all Bitcoin mining in the United States. Trump has received over $25 million in donations from industry players.
What can crypto enthusiasts who identify as Democrats expect moving forward? Only time will tell, but it does seem their party is yet to truly embrace the industry.
