Crypto Coalition Asks Biden, Harris for Solid US Regulatory Guidelines
A crypto coalition is urging the US administration to establish a clearer regulatory framework for digital assets, arguing that it would bring significant economic and national security benefits to the country.
In an Aug. 7 letter to President Joe Biden and Vice President Kamala Harris, the Crypto Market Integrity Coalition (CMIC) stated that clear regulatory guidelines would enhance consumer protection against malpractices in the US. It argued that such rules would bolster the US dollar and maintain America’s technological leadership.
It was sent as the US admin is close to its term’s end, with the upcoming US presidential election on the horizon. Democratic nominee Harris has yet to publicly state her stance on cryptocurrency. In contrast, her opponent, Donald Trump, is actively supporting a pro-crypto campaign.
1/ In a letter sent this morning to President @JoeBiden and @VP Harris, the Solidus-founded Crypto Market Integrity Coalition (CMIC) urges the @WhiteHouse to support a safe, regulated, and competitive U.S. market for digital assets. pic.twitter.com/dwViL5tatA
— Chen Arad (@AradChen) August 7, 2024
The letter referred to President Biden’s 2022 Executive Order on digital assets, describing it as one initiative to realize its vision. This order aimed to provide recommendations for consumer protection and financial stability in the US. It also opened discussions on a potential US central bank digital currency (CBDC).
Further, the coalition cited data suggesting that digital currency payments will soon become commonplace, with 90% of merchants anticipating their widespread adoption. This prediction aligns with current trends, as over 16% of Americans have already experienced using digital assets. Additionally, large
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