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COINTURK NEWS > Cryptocurrency News > Democratic Party Hosts Tense Meeting with Crypto Sector
Cryptocurrency News

Democratic Party Hosts Tense Meeting with Crypto Sector

In Brief

  • The Democratic Party held a tense online meeting with the crypto sector.

  • Regulatory pressures from the Biden administration were a major topic.

  • Kamala Harris faces challenges in gaining support from the crypto sector.

COINTURK NEWS
COINTURK NEWS 10 months ago
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Democratic Party held an online meeting to mend ties with the cryptocurrency sector, which turned out to be much more tense than expected. Hosted by California Congressman Ro Khanna, the meeting highlighted the impact of the Biden administration’s stringent financial regulations on the crypto sector. The meeting, attended by about twenty people, revealed a deepening rift between crypto investors and the Democratic Party due to regulatory pressures.

Contents
Regulatory Pressures AddressedA Tough Test for Kamala Harris

Regulatory Pressures Addressed

The meeting included prominent figures from the Biden administration. However, this was not enough to appease the crypto representatives. Industry leaders like Mark Cuban, Anthony Scaramucci, and Ron Conway voiced their grievances over regulatory pressures.

Particularly, the harsh stance of institutions like the SEC and the Federal Reserve towards the crypto sector fueled the participants’ anger. Throughout the meeting, it was emphasized that the Democratic Party had not fulfilled its promises to the crypto sector.

A Tough Test for Kamala Harris

The meeting underscored the challenges Kamala Harris, the Democratic Party’s candidate for the 2024 elections, faces in garnering support from the crypto sector. Industry representatives noted that the Biden administration’s regulatory pressures on cryptocurrencies were damaging Harris’s campaign. However, some participants remain hopeful that Harris could be a new face for cryptocurrencies.

Anthony Scaramucci mentioned that the workings of Washington take time and believed that Harris could gain support in the crypto world in the long run. Paul Grewal, Legal Director of the cryptocurrency exchange Coinbase, stated that the meeting should be seen as a sign of transition from the Biden administration to the Kamala Harris campaign.

In conclusion, the strained relationship between the crypto world and the Democratic Party has once again highlighted the challenges Kamala Harris faces in gaining support from the crypto sector. How these tensions will resolve remains to be seen. However, establishing a communication channel during this process could be beneficial for the crypto field, potentially minimizing future pressures and avoiding past mistakes.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 9 August, 2024 - 9:19 am 9 August, 2024 - 9:19 am
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