- Digital Chamber Group wants Kamala Harris to support digital assets
- The advocacy group asked Harris to pick a vice president who understands the industry
- They believe the digital asset industry is creating the “revolutionary shift” Harris needs to advocate for
The Digital Chamber of Commerce has sent a letter to Vice President Kamala Harris calling on her to support the digital asset industry, which it believes has “enormous potential for innovation, economic growth, and financial inclusion.”
In a July 22 letter, the cryptocurrency advocacy group made three requests to Harris. These measures are intended to promote the inclusion of pro-digital asset language within the Democratic Party, select a vice presidential candidate who understands the digital assets industry (such as Colorado Governor Jared Polis), and engage with industry leaders.
According to the Digital Chamber, Democratic leaders, including Speaker Emeritus Nancy Pelosi and Senate Majority Leader Chuck Schumer, support pro-cryptocurrency legislation. However, due to the influence of the Biden and Harris administrations, public opinion generally believes that the Democratic Party has a negative stance on digital assets.
In June, President Joe Biden reportedly vetoed a bill that would have overturned SEC cryptocurrency accounting standards. Many in the cryptocurrency community see this as a setback for innovation and financial inclusion.
“We believe that previous hostility does not reflect your party’s progressive and inclusive values,” the group wrote, adding that more than 50 million Americans have embraced digital assets.
Champion innovation
The Digital Chamber of Commerce writes that digital assets highlight a “revolutionary shift” that can “increase transparency, reduce fraud and create a more inclusive financial system.”
The advocacy group urged the Harris administration to “support these innovations to help reaffirm America’s position as the global leader in the digital economy.
Harris was endorsed as a potential successor to Biden after news broke that he would not seek re-election this year.
Since then, the value of the Harris meme token has skyrocketed. For example, Solana-based memecoin KAMA rose more than 60% in 24 hours to $0.02512, according to CoinMarketCap.
Harris has yet to comment on her stance on cryptocurrencies; however, the Digital Chambers concluded their letter by stating that they are “hopeful” that through Harris’ leadership, “Democrats can shift to a more supportive stance on digital assets.”
Advocacy for Digital Assets
As the digital asset industry continues to evolve and grow, advocacy groups such as the Digital Chamber of Commerce are pushing for support from key political figures like Vice President Kamala Harris. The group believes that digital assets have the potential for significant innovation, economic growth, and financial inclusion.
Challenges and Opportunities
Despite growing support from Democratic leaders for pro-cryptocurrency legislation, challenges remain, such as President Biden’s reported veto of a bill related to SEC cryptocurrency accounting standards. However, the Digital Chamber of Commerce remains optimistic about the industry’s future, citing the benefits of increased transparency and a more inclusive financial system.
Looking Towards the Future
With the endorsement of potential successors like Harris and the increasing value of cryptocurrency tokens, the digital asset industry is poised for continued growth. The hope is that through Harris’ leadership and engagement with industry leaders, Democrats can adopt a more supportive stance on digital assets, reaffirming America’s position as a global leader in the digital economy.
