According to a report by Business Insider, the US political establishment's attitude towards cryptocurrencies is warming up at a pace that exceeds industry expectations, with lawmakers from both parties starting to engage actively with the crypto sector after years of skepticism. Ledger's global policy chief Seth Hertlein stated that the word "embrace" is too strong, but he believes there is a clear thawing. He emphasized that cryptocurrencies were a major issue in the last election, and he believes that no one in Washington can ignore this. Cryptocurrencies will continue to exist, and they cannot be ignored or suppressed, which is something that party leaders must face.
The report indicates that former President Trump has shifted from being firmly opposed to Bitcoin to supporting cryptocurrencies and plans to launch a digital asset strategic reserve. Surprisingly, Democrats are also beginning to reconsider their anti-crypto stance. Crypto lobbying groups have reported that the hostility towards the industry from Democrats has clearly weakened, with views expressed by Elizabeth Warren in January 2022 becoming increasingly outdated. This week, the US Senate overwhelmingly passed a bill to block regulatory measures from the Biden administration, with a vote of 70 to 28, far exceeding Hertlein's expectation of 2-3 Democratic supporters.
21Shares' US business head Federico Brokate emphasized that cryptocurrencies are not a politicized asset class, stating that different aspects of the crypto value chain are happening in traditional red or blue states. He believes the Democratic platform is naturally suited for decentralized finance.
SkyBridge Capital founder Anthony Scaramucci criticized the Democrats for being "really behind" on the cryptocurrency issue. He stated that he, along with Mark Cuban and Michael Novogratz, had told the Biden team to "stop the anti-cryptocurrency action." Scaramucci believes that the Democrats have not seen the power of this industry, which shows their current dereliction of duty. He stated that if the Democrats do not change their stance on cryptocurrencies, they will face many problems, and at the very least, they should remain neutral on .
