Democrats and Republicans can stop arguing like children over one thing: cryptocurrencies. A majority of both left-handed and right-handed people see cryptocurrencies as the “future of finance.”
new Investigation It shows that cryptocurrencies can be a force in stopping large divisions between political parties. But Americans want established rules and regulations. The need for regulation is another thing Democrats and Republicans agree on. 59% of Democrats and 52% of Republicans supported the introduction of rules and regulations. Regulation is one of the most debated topics in the cryptocurrency industry.
Cryptocurrencies are slowly creeping into the mainstream. And celebs are on the gravy train, from Baseball Hall of Famer David Ortiz (plugging in his FTX in a series of commercials) to his Matt Damon representing Crypto.com, everyone is in action are participating in
But what about the political front?
When it comes to regulation around cryptocurrencies, Democrats and Republicans seem to agree on a crypto love-in. Representatives from both sides took a mixed approach, calling for regulatory action to combat crypto bad guys. Aww cute.
But as the 2022 midterm elections approach, some differences remain. In the 2022 U.S. Midterm Elections on November 8, Major impact for the crypto industry.
Democrats and Republicans: Where They Stand
president Joe Earlier this year, Mr. Biden signed an executive order to “ensure the responsible development of digital assets.” The president said it was designed to “protect the rights of consumers and the rights of investors.”
This is the opposite behavior of former President Donald Trump, who is a cryptoskeptic.
Biden’s first-ever framework for ‘responsible development of digital assets’ said:
“Since taking office, the Biden-Harris administration and independent regulators have issued guidance, increased enforcement resources, and aggressively pursued fraudsters to protect consumers and ensure fairness in digital asset markets. We’ve been working hard to keep playing.”
Whether or not this actually happens is a whole other story. But there has been a change in the narrative, at least compared to the previous ruling party.
Former US President Donald Trump never missed an opportunity. voice anti-crypto sentiment.
Trump remains a supporter of fiat currency and the US dollar. Former Vice President Mike Pence is also on the bandwagon. Many have accused Trump and Pence of being out of touch and readying their retirement villages by adopting a no-crypto stance. However, Trump and Pence’s opinions may change. It looks like Republican conservatives are coming.
Conservative American author and commentator Candice Owens has declared that she is “finally hooked on cryptocurrencies.” Owens is a big influence when it comes to Conservative opinion. And so is her husband. She is married to George Farmer, her CEO of a conservative social media platform. parlorIf Republicans can set themselves apart from mainstreaming cryptocurrencies, it’s them.
vote to fill these gaps
The exponential growth of cryptocurrencies and the wider Web3 space means regulatory issues are coming to the fore.
Grayscale Investments surveyed American opinion Investigation About the current state of virtual currency. Leaders from around the world also participated in the poll. Regarding regulation, “81% agree that clearer regulation of the cryptocurrency industry is needed, including 88% of Democrats and 77% of Republicans.”
Michael Sonnenshein is CEO of Grayscale CEO.he Said“As the midterm elections approach, U.S. voters are considering the intersection of the state of cryptocurrencies, traditional finance, and the economy. I assure you that I will continue.”
Rules: Do or Don’t
With the exception of the United States, regulators around the world are jumping on the regulatory bandwagon. EU Financial Services Commissioner Mairead McGuiness said: urged US lawmakers create crypto regulations and international industry standards.
Regulation can enhance three key aspects of the industry: stability, investor protection and confidence.
Crime within crypto has increased significantly over the past two years.con man looted $14 billion worth of cryptocurrency by 2021. That’s yet another record when compared to his $7.8 billion stolen by scammers in 2020.
However, some believe that there should be no regulation in the cryptocurrency industry at all, and government involvement in the cryptocurrency industry goes against the very ideals for which it was created.
While the debate over regulation rages on, Democrats and Republicans seem to have buried their hatchets.
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