{"id":2196,"date":"2025-01-07T15:18:01","date_gmt":"2025-01-07T15:18:01","guid":{"rendered":"https:\/\/digkrypton.com\/index.php\/2025\/01\/07\/democrats-should-reverse-their-stance-on-bitcoin\/"},"modified":"2025-01-07T15:18:01","modified_gmt":"2025-01-07T15:18:01","slug":"democrats-should-reverse-their-stance-on-bitcoin","status":"publish","type":"post","link":"https:\/\/digkrypton.com\/index.php\/2025\/01\/07\/democrats-should-reverse-their-stance-on-bitcoin\/","title":{"rendered":"Democrats Should Reverse Their Stance On Bitcoin"},"content":{"rendered":"

Follow Frank on X<\/a>.<\/p>\n

Last month at the New York Times<\/em> DealBook Summit<\/a>, political analyst and media personality Van Jones admitted that the Democrats made a fatal mistake in not only largely disregarding the crypto voter but in acting against them during the last election cycle and more broadly during President Biden\u2019s time in office.<\/p>\n

\u201c50 million people bought some crypto \u2014 that\u2019s a bet on [the] future,\u201d said Jones.<\/p>\n

\u201cThey\u2019re trying to get to a better future. Joe Biden, Kamala Harris, Elizabeth Warren beating the hell out of crypto was not smart,\u201d he added.<\/p>\n

CNN host @VanJones68<\/a> says, \u201cDemocrats ran people out of the party on crypto. 50 million people bought crypto. It\u2019s a bet on a better future\u201d pic.twitter.com\/Ee8NlutNK1<\/a><\/p>\n

\u2014 Documenting \u20bfitcoin \ud83d\udcc4 (@DocumentingBTC) January 6, 2025<\/a><\/p>\n

Jones is one of the first prominent Democrats to publicly admit post election that the Democrats should have invited those who hold bitcoin and crypto into the party instead of pushing them away.<\/p>\n

The questions now are Will other well-known Democrats follow Jones’s lead? and What would their policy proposals look like if they did?<\/p>\n

The latter question is particularly important because while Democrats may begin to say they\u2019re \u201cpro-crypto,\u201d the devil is in the details.<\/p>\n

For example, when I interviewed former Congressman Wiley Nickel (D-NC)<\/a>, one of the few outspoken bitcoin and crypto proponents in the Democratic party last year, I asked him if he\u2019d support the right for bitcoin and crypto owners to hold their private keys.<\/p>\n

This was his response:<\/p>\n

\u201cIn Congress, we’ve really focused on doing a few things before we get into the next level of stuff. It’s about regulating the industry, FIT21, the digital assets market structure bill and stablecoins. We’ve gotten sidetracked with SAB121<\/a> for custodial banking.<\/p>\n

Those are the things that I think we need to tackle first, and then we get into the next layer of stuff, and I’m really hopeful we’re going to get those things done this Congress.\u201d<\/p>\n

The right to hold one\u2019s private keys is the \u201cfirst level of stuff\u201d in my book, and his lack of a direct response to my question worried me, especially when juxtaposed with what Trump said on the matter<\/a> at the Libertarian National Convention in May 2024:<\/p>\n

\u201cI will support the right to self-custody [for] the nation\u2019s 50 million crypto holders.\u201d -Donald J. Trump<\/p>\n

So, if the Democrats are to start shifting their rhetoric when it comes to Bitcoin and crypto, they\u2019re also going to need to come correct when it comes to policy proposals if they plan to win over the voters they lost in this previous election cycle come midterm elections.<\/p>\n

This article is a <\/em>Take<\/em><\/a>. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Follow Frank on X. Last month at the New York Times DealBook Summit, political analyst and media personality Van Jones admitted that the Democrats made a fatal mistake in not only largely disregarding the crypto voter but in acting against them during the last election cycle and more broadly during President Biden\u2019s time in office. […]<\/p>\n","protected":false},"author":0,"featured_media":2197,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-2196","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/2196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=2196"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/2196\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/2197"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=2196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=2196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=2196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}