U.S. Coinbase affiliate holds virtual currency debate among presidential candidates

Held in New Hampshire

Stand with Crypto Alliance, a cryptocurrency rights advocacy group, announced on the 2nd that it will hold a public debate on the topic of virtual currencies among U.S. presidential candidates.

We are excited to announce the first-ever Crypto Presidential Forum!

Join us in New Hampshire to hear directly from candidates about their positions on crypto policy and a wide range of other topics. Audience members will be able to submit questions.

Local leaders will also be… pic.twitter.com/B5fqd5TlfE

— Stand With Crypto (@standwithcrypto) December 1, 2023

Stand with Crypto is a non-profit organization launched by major US exchange Coinbase in August of this year, and its focus is on “directly involving the cryptocurrency community in the legislative process.”

This presidential forum will be held in New Hampshire on December 11th, and participation is free. Interested participants can submit questions for candidates at the time of booking.

Since the forum’s topics are not limited to crypto-related topics, it will be an opportunity for candidates to market their policies to the crypto community ahead of New Hampshire’s primary election.

In New Hampshire’s primary elections, even non-party members can choose either the Republican or Democratic Party in advance and vote for each party’s candidate, making it easier to reflect the trends of the electorate as a whole. Therefore, it is seen as one of the indicators for predicting the subsequent primary elections in each state.

Candidates confirmed to participate

According to Stand with Crypto, the following three candidates are currently confirmed to participate.

• Asa Hutchinson (Republican): Former Governor of Arkansas
• Mr. Vivek Ramaswamy (Republican): Entrepreneur
• Dean Phillip (Democratic Party): U.S. House of Representatives

Stand with Crypto has invited Republicans including former President Donald Trump, former United Nations Ambassador Nikki Haley, Florida Governor Ron DeSantis, and former New Jersey Governor Chris Christie. Robert F. Kennedy Jr., a lawyer who left the Democratic Party and announced his candidacy as an independent, was also reportedly invited.

Candidates who support cryptocurrencies

Among presidential candidates, Mr. Ramaswamy, Mr. DeSantis, and Mr. Kennedy Jr. have expressed support for cryptocurrencies.

In May, DeSantis said he would “defend the freedom to use virtual currencies like Bitcoin.” In July, Kennedy pledged bold reforms that would exempt Bitcoin from capital gains taxes and back the U.S. dollar and U.S. government bonds with “hard currencies” such as gold and Bitcoin.

connection:US Presidential Candidate Robert F. Kennedy Jr. Announces Bold Bitcoin Policy

Ramaswamy also said, “Bitcoin is a decentralized alternative currency to the dollar,” and strongly criticized the current attitude of regulatory authorities toward virtual currencies. He announced in September that he plans to release a “comprehensive crypto policy framework.”

connection:US presidential candidate Ramaswamy plans to propose a new “cryptocurrency policy framework”

Stand with Crypto believes that 52 million people, or about a quarter of adults in the United States, own cryptocurrencies, and that they have an influence that cannot be ignored as a voting base. Additionally, ownership of virtual currencies is not influenced by political party affiliation, and is evenly distributed between parties.

Grayscale, a major US cryptocurrency investment company, has pointed out that Bitcoin may become more relevant in the 2024 presidential election due to changes in American values.

connection:Grayscale releases latest report on “The relationship between Bitcoin, virtual currency, and the 2024 US presidential election”

Cryptocurrency supporter retires

As virtual currency-related issues have been brought up in the presidential election, Rep. Patrick McHenry, a cryptocurrency supporter, has announced his intention to retire at the end of this term.

I will be retiring from Congress at the end of my current term. I believe there is a season for everything and—for me—this season has come to an end. I look forward to what comes next for my family and me.https: //t.co/QCVurSYuhm

— Patrick McHenry (@PatrickMcHenry) December 5, 2023

Rep. McHenry serves as the chairman of the House Financial Services Committee and is one of the few members of Congress who has advocated support for virtual currencies, such as by submitting a bill to Congress to clarify stablecoins for payments.

At a hearing in September, SEC Chairman Gary Gensler told SEC Chairman Gary Gensler that, contrary to his statements that the law was clear, his actions were likely to cause further confusion. “It has caused lasting damage,” he said. At one point, Gensler criticized the SEC’s “reckless approach to rulemaking,” saying the SEC is not “above the law” as it is subject to oversight by Congress.

It has also sent a letter of protest to Federal Reserve Chairman Jerome Powell over stricter regulations on stablecoins.

People in the cryptocurrency industry are praising McHenry’s accomplishments and expressing regret for his retirement.

connection:US hearing: “Are tokenized Pokemon cards securities?” SEC Chairman Gensler did not provide an answer

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