Democratic Party is Playing the Role of Political Opposition on Crypto Adoption

Recently, a Republican Party representative from Minnesota, Tom Emmer, took to Twitter to post a small encrypted message. The two-word message that contains GM, a popular internet lingo for Good Morning, also spells out good news for the crypto community in the region. The implied definition of this new cryptic message is airing support for the broader crypto adoption by Republican Party.

On the other side of the spectrum, Democratic Party has decided to take an opposing stance on the crypto-related legislation. The representatives like Senator Elizabeth Warren have recently dubbed crypto coders as shadowy figures. Meanwhile, President Biden’s decision to nominate an anti-crypto candidate for OCC is also a big question mark.

Brad Sherman from Democratic Party recently aired a complaint monologue in Congress about the potential dangers of cryptocurrency adoption. Many people were treating the incident to the 1990s when several politicians looked down upon the novel idea of the Internet.

On the other hand, politicians with a questionable track record like Salvadorian President Nayib Bukele and Ted Cruz has been able to gain a massive amount of supporter through Bitcoin advocacy. The citizens of the United States are also looking down upon the choice of Gary Gensler as chief of Securities and Exchange Commission, who has revealed a visible aversion towards the Spot Bitcoin exchange-traded funds.

Despite the massive opposition offered by most Democratic Party politicians, some younger politicians from the liberal values party seem to be warming up to the idea of cryptocurrency technology. Antonio Torres is one such Democratic Congress representative who recently posted questions about how blockchain technology can help people lower remittance costs.

Another representative from the Democratic Party, Jake Auchincloss, recently chartered a bipartisan bill directed towards supporting the Web3 innovations and development. It seems highly likely that the Democratic Party would be in trouble during next year’s mid-term election. Crypto experts believe that dismissing the blockchain industry is not going to help their case.

Related Posts

Leave a Reply

Your email address will not be published.