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Unchained
Why Congressman Ro Khanna Is Hopeful the Democratic Party Will Embrace Crypto - Ep. 679
Jul 26, 2024
Ro Khanna, a House Representative advocating for a more crypto-friendly Democratic Party, shares his vision for reforming crypto policy in the U.S. He addresses the dissatisfaction of former Democratic crypto supporters and proposes a crypto plank for the party platform. Khanna discusses the implications of the Supreme Court's recent decisions on regulatory approaches and highlights the potential for a significant crypto bill this year. He emphasizes the need for bipartisan support to foster innovation in the ever-evolving crypto landscape.
29:42
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Quick takeaways
- Congressman Ro Khanna is actively working to shift the Democratic Party's stance on crypto towards a more supportive and regulatory-friendly approach.
- The recent fracture in crypto supporters' voting preferences highlights the necessity for Democrats to unify and prioritize crypto-friendly policies to regain trust.
Deep dives
The Growing Support for Crypto Among Democrats
An emerging generation of Democrats is increasingly advocating for crypto-friendly policies within the party. Congressman Ro Khanna highlighted his collaboration with colleagues to support bills like FIT21, which aims to create a more balanced regulatory approach between the SEC and CFTC for cryptocurrencies. This shift is reflected in the efforts of over 70 Democrats who backed this bill, as well as the overturning of President Biden’s veto on SAB 121, which allows banks to handle crypto assets without categorizing them as liabilities. The hopeful narrative is that the Democratic Party will embrace these new policies, marking a departure from previous hostile stances toward crypto.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode