U.S. Crypto Advocates Push for Democratic Shift

Some U.S. crypto advocates are collaborating with Vice President Kamala Harris to distance the Democratic Party from Senator Elizabeth Warren and SEC Chair Gary Gensler, according to Anthony Scaramucci, founder of SkyBridge Capital.

During a panel at Token2049 in Singapore, Scaramucci expressed optimism about making progress in this effort:

“I believe we are making progress, and I think it’s going in the right direction.”

He suggested that this movement could lead to more favorable legislation and clearer regulatory frameworks for stablecoins and cryptocurrency. Scaramucci also mentioned that Donald Trump’s potential election might provoke a backlash, complicating bipartisan support for crypto policies.

However, BitGo CEO Mike Belshe noted that U.S. presidents significantly influence regulatory agencies and highlighted Trump’s clarity on crypto issues, contrasting that with what he perceives as a lack of clear guidance from Harris.

“If you care about crypto and freedom, you have to vote Trump,” he previously stated.

‘Crypto is Purple’

Circle CEO Jeremy Allaire remarked that “Circle is purple, and crypto is purple,” emphasizing that technology transcends political divides and continues to evolve globally.

He argued that as technology becomes integral to society, policies will adapt accordingly:

“My view is, when technology delivers utility to society… policy is responsive to society.”

Belshe agreed, acknowledging the necessity of political discussions about crypto for the near future.

“But it is about what happens over the next four years or eight years.”