Regulation
Biden urged by House of Representatives to appeal to young voters by supporting cryptocurrency rules: ‘This issue can still be won’
The Chamber of Progressa coalition of the technology sector, invited the President Joe Biden to advocate for comprehensive regulation of cryptocurrencies, presenting it as a crucial strategy to attract young voters ahead of the US presidential election.
What happened: In a letter to President Biden on Tuesday, the organization stressed the importance of a pro-cryptocurrency agenda to win support from Gen Z and Millennial voters. The letter noted that more than 18 million Americans are currently involved in trading or holding cryptocurrency.
“With a close election on the horizon, becoming the first president to chart a clear path for digital assets in the United States is a critical opportunity for this administration,” the House said in the letter.
In the same speech, the tech coalition noted that regulatory uncertainty under the administration had destroyed investor confidence. Author: Gary GenslerThe SEC led by Donald Trump has been criticized specifically for its hostile approach towards cryptocurrency-based organizations.
The letter cited nationwide polls showing that about 20 percent of registered voters considered cryptocurrency regulation an important election issue.
See also: Doja Cat Account Hack Leads to $1.6M Crypto Loss: Rapper Says, ‘It’s Not Me, It’s Literally a Faker’
Because matter:This letter comes after the The Republican Party has officially pledged its support for the cryptocurrency sector in his 2024 election manifesto, promising to end “illegal and anti-American repression” in the United States
Candidate for President Donald Trump has he positioned himself as a “crypto president”marking a 180-degree turnaround in its position on the asset class, in particular Bitcoin BTC/USD exchange rate.
His aggressive pro-Bitcoin marketing has earned him support from cryptocurrency bettors. The odds of him winning the presidential race were 63% at the time of writing on decentralized forecast marketPolymarket.
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