Senator Chuck Schumer has notably left cryptocurrency off his latest legislative priorities, despite previous assurances that it would be a key focus this year.
In his recent “Dear Colleague” letter, Schumer highlighted several pressing issues such as rail safety, insulin costs, and artificial intelligence, but omitted cryptocurrency from his agenda. This development contrasts sharply with his earlier statements made during the “Crypto4Harris” town hall, where he had pledged to push for a bipartisan crypto regulation bill by the end of the year.
The “Crypto4Harris” event, organized by supporters of Vice President Kamala Harris, aimed to engage the crypto community ahead of the upcoming elections. During his speech, Schumer emphasized the urgency of addressing crypto regulations to prevent the industry from moving overseas. He stated:
“My goal is to get something passed out of the Senate and into law by the end of the year, and I believe we can make that happen. We should strike a balance for crypto between promoting innovation and providing common-sense guardrails.”
Despite these assurances, Schumer’s recent exclusion of crypto from his legislative agenda has sparked criticism from the decentralized community. Critics argue that the Biden-Harris administration’s actions do not reflect a genuine commitment to addressing cryptocurrency issues. Some have expressed frustration over perceived inconsistencies between the administration’s public support and its legislative actions.
One commenter on X noted the lack of recent statements on crypto from Vice President Harris, while others accused the administration of leveraging crypto-related events for political gain without substantive engagement.
While the focus on crypto has waned, Harris’s campaign continues to accept cryptocurrency donations through Coinbase. However, there is no mention of digital assets or blockchain technology on her official website, reflecting the administration’s cautious stance on the issue.
Despite backing from prominent pro-crypto Democrats like Mark Cuban and Ripple co-founder Chris Larsen, Harris’s campaign faces challenges in maintaining momentum among crypto enthusiasts, with recent polls showing a strong showing from her Republican opponent, Donald Trump.
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