Crypto Voting Power and the Future of US Elections

Learn about the growing influence of the crypto community in upcoming US elections and how candidates are addressing the topic.

Posted 7 months ago in Blockchain

An image depicting a ballot box with a cryptocurrency symbol on it

According to Coinbase CEO Brian Armstrong, the upcoming elections in the United States will see cryptocurrencies become a hot topic. Armstrong believes that representatives in Washington are unaware of the voting power held by the crypto community. With approximately 56 million Americans already using cryptocurrencies, Armstrong predicts that citizens will demand to know candidates' positions on crypto in the 2024 election. Notably, Florida Governor Ron DeSantis has pledged to ban central bank digital currencies if elected president, while Robert F. Kennedy Jr. opposes the concept of a digital dollar due to privacy concerns. However, both candidates have adopted a crypto-friendly campaign strategy. Ahead in the polls, Joe Biden and Donald Trump are open to exploring central bank digital currencies, according to Grayscale's analysis. Coinbase has been actively lobbying for regulatory clarity in the crypto space and Congress is discussing bipartisan bills to establish rules for crypto firms and users. Armstrong also suggests that a change in leadership at the SEC in 2024 could impact crypto regulation.

Overall, the significant number of Americans using cryptocurrencies and the disparity between current policies and citizens' needs will ensure that crypto remains a prominent issue in future elections.

Last updated 9/10/2023, 10:39:51 PM


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