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While the Republican platform addresses the issue of cryptocurrency and bitcoin, the Democratic Party’s latest platform remained silent on the matter. Adding to the buzz, there are whispers that Kamala Harris’s campaign might be eyeing Gary Gensler, the current head of the U.S. Securities and Exchange Commission, for the role of Treasury Secretary.
Democrats’ Latest Platform Bypasses Crypto Issues, Gensler Rumors Swirl
Kamala Harris‘s rumored ‘crypto reset’ appears to be off the table, at least if the Democratic Party’s official platform for the Democratic National Convention (DNC) is anything to go by. The document skips over any mention of blockchain technology, bitcoin, ethereum, crypto assets, or anything linked to the digital currency space. It only briefly addresses technology and its innovations, focusing mostly on the party’s “Housing Innovation Fund” and climate change.
The platform touches on artificial intelligence (AI), acknowledging its “extraordinary potential” but emphasizing the risks, noting that AI could lead to “peril.” It further warns that AI is “being used to clone voices, commit fraud, institutionalize bias, and undermine democracy.” Additionally, a questionable report suggests that if Harris becomes the U.S. president, she might appoint Gary Gensler as Treasury Secretary.
Gensler and the current SEC haven’t been favorites in the crypto industry, as the securities regulator has been taking an enforcement-heavy approach. Between Gensler’s SEC and the Biden administration, the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Treasury, including “Operation Choke Point 2.0,” many crypto veterans doubt Harris will change the Democrats’ stance on cryptocurrencies.
Skepticism also surrounds the source of the Gensler news, originating from the Washington Reporter. Journalist David Morris commented, “So after some looking, the ‘Washington Reporter’ is not a real news organization, it’s run by GOP operatives. The author of the piece is currently ‘running for Congress’ (ahem). This isn’t a news story, it’s a political smear,” he added. Despite doubts about the Washington Reporter’s story, the Gensler rumors blazed across social media, igniting a storm of comments and reactions.