US President Joe Biden announced yesterday that he was withdrawing from the presidential race. While this situation was interpreted as Donald Trump's chances of being elected increasing, Variant's Chief Legal Officer Jake Chervinsky claimed that the new candidate of the US democratic side could take back crypto voters.
Jake Chervinsky, who evaluated Biden's withdrawal from the presidential race and its impact on Bitcoin and the cryptocurrency industry from his account
Variant Fund CLO and former Blockchain Association attorney Jake Chervinsky argued that cryptocurrencies are inherently nonpartisan and that many Democrats are still aware of crypto's potential.
Chervinsky offered five suggestions for a new Democratic candidate to win back crypto voters.
These include acknowledging the importance of cryptocurrencies to the U.S. economy, acknowledging the failures of current regulatory approaches, proposing balanced policies for innovation and consumer protection, proposing crypto-friendly designations for key institutions such as the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission. interacting with industry stakeholders.
“With President Biden stepping aside, the Democratic Party has a huge opportunity to win back a large portion of the crypto vote.
In an election that will be won by landslides in states where cryptocurrency is a live issue, this should be a top priority for the new candidate.
……
“I believe Democrats have a great opportunity, but only the new candidate can decide whether to take it.”
*This is not investment advice.