Crypto was left out of a letter sent by Senate Majority Leader Chuck Schumer (D-NY) on Sunday to outline the Senate's priorities. But he did include AI.
Schumer’s letter comes amid bipartisan efforts to prevent a government shutdown, with government funding set to expire on September 30. HIs "Dear Colleague" letter highlighted rail safety, prescription drugs, AI, but leaves out crypto after he strongly supported efforts to pass regulation just a month ago during the Crypto4Harris town hall.
At the town hall, Schumer stated, “Washington cannot just look away from crypto,” vowing to push for crypto regulation by the end of the year.
As seen last month, the Democratic National Committee (DNC) unveiled its official platform. It was noted then that the Dems made no mention of cryptocurrency or blockchain technology in the nearly 100-page document.
Democratic Party Platform Makes No Mention of Bitcoin or Crypto
The Democratic National Committee (DNC) unveiled its official platform on Sunday, with no mention of cryptocurrencies or blockchain technology in its nearly 100-page manifesto. The document is expected to receive approval from delegates at the Democratic National Convention in Chicago on Tuesday. It is unclear if the document will be changed before then. The DNC platform’s omission of cryptocurrencies marks a strong contrast to the rival Republican platform, which included several pro-crypto d...
That’s in strong contrast with the Republican platform, which includes several pro-crypto positions. The Republican platform, officially adopted in July, pledges to "defend the right to mine Bitcoin, and ensure every American has the right to self-custody of their digital assets."
Trump himself has made many promises to the crypto industry during his re-election campaign appearances, including championing Bitcoin mining by U.S. companies and firing Securities and Exchange Commission Chair Gary Gensler.
The Dem's focus on AI also comes amid growing support for cryptocurrency within political and business circles. Former Ripple Labs CEO Chris Larsen recently endorsed Kamala Harris in her 2024 presidential bid, joining a coalition of 88 business executives backing her campaign.
Ripple Labs Co-Founder Chris Larsen Backs Kamala Harris
Former Ripple Labs CEO Chris Larsen has formally backed Kamala Harris ahead of the 2024 presidential race, as part of a coalition of business executives endorsing the vice president. The co-founder joined 88 other executives, including 21st Century Fox CEO James Murdoch and Snap chairman Michael Lynton, in the joint letter, reported by CNBC. Larsen co-founded Ripple in 2012 under the name OpenCoin, and stepped down as Ripple CEO in December 2016, retaining the role of executive chairman. He was...
As the Senate returns to session, Schumer concluded his letter by reaffirming the need for unity and bipartisan cooperation to tackle the most pressing challenges. "Finding compromise is never easy, but we know it is the only path to achieving results for the American people," he wrote.
Whether cryptocurrency regulation will return as a legislative priority remains to be seen, but for now, artificial intelligence has taken center stage in Washington’s policy agenda.
Edited by Stacy Elliott.
