Bankless Crypto & The Democrats | Rep. Ro Khanna
Sep 25, 2024
Ro Khanna, a Congressman from California and crypto advocate within the Democratic Party, discusses his efforts to mainstream cryptocurrency. He shares insights on recent meetings between the White House and crypto industry leaders, explores the evolving sentiment towards crypto among Democrats, and emphasizes the need for regulatory clarity. Khanna also highlights the importance of bipartisan support and engaging younger voters, while envisioning ideal policy frameworks that could reshape the Democratic Party's stance on financial innovation.
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Crypto Use Cases
- Bitcoin and crypto are modern financial innovations with use cases like storing value and making payments.
- These innovations are comparable to gold and traditional payment systems but offer advantages like easier transferability.
Political Stances on Crypto
- The Biden and Harris administrations seem hesitant to discuss crypto, causing concern in the industry.
- Trump, conversely, has expressed interest in fostering crypto innovation.
Overcoming Resistance to Crypto
- Generational differences within the Democratic party contribute to the resistance towards crypto, viewing it as speculative.
- Educating about its legitimate use cases and addressing concerns about illicit uses are crucial for wider acceptance.