The 2024 Democrat Party platform did not address crypto or digital assets policy. The 91-page party platform is expected to be passed on Aug. 19 in a vote from the Democratic National Convention (DNC).
However, the Harris-Walz 2024 presidential campaign and senior Democrat officials had been pledging a crypto “reset” that would diverge from the anti-crypto policies of the Biden administration for weeks.
The 91-page party platform addressed various topics, including US foreign policy and geostrategic power, “corporate greed,” housing, and education.
The lengthy document consistently referenced cost-cutting; however, the party platform failed to address the US government’s escalating costs due to monetary debasement or austerity measures to regulate its spending. The US government is presently in a staggering $35 trillion debt.
However, the opposite was generally the case, as there were numerous cries to increase government spending by safeguarding Social Security and expanding social entitlement programs. In May 2024, the House Budget Committee acknowledged that Social Security was on the brink of insolvency.
The crypto reset’s veracity is an issue
Industry executives and crypto investors alike have reacted with suspicion to the Harris campaign’s assurances that it will reverse the crypto policies implemented during the Biden administration.
In a recent interview with Cointelegraph, Fred Thiel, CEO of MARA, stated that he did not anticipate any mention of Bitcoin in the Harris platform. He also mentioned that the Bitcoin mining giant may contemplate opportunities outside of the United States contingent upon the outcome of the 2024 presidential election.
At a recent campaign event for Harris, “Crypto4Harris,” Senate majority leader Chuck Schumer pledged to support pro-crypto policies if Kamala Harris were elected President in November.
The senior Democrat leader, Schumer, referenced the geostrategic implications of failing to adopt digital assets during the meeting, which he attended virtually. Schumer maintained that if the United States fails to innovate in digital assets, other nations will.
On August 19, 2024, the Democratic Party will vote to finalize its 2024 platform. Despite the consensus among experts that the platform will be enacted in its entirety, others, such as Vivek Ramaswamy, believe that Harris and the Democratic Party may alter their stance on digital assets.
The former Republican presidential candidate stated to CNBC on August 13 that he anticipates the Harris campaign to focus on cryptocurrency, even if it is only through rhetoric and campaign promises, to attract votes from single-issue crypto voters.
