U.S. tech industry group the Chamber of Progress has urged President Joe Biden to voice support for comprehensive crypto regulation, saying Republican rival Donald Trump has capitalized on the administration's lack of clarity.
“Becoming the first president to set a clear path forward for digital assets in the U.S. is a pivotal opportunity for this administration,” Bligen added. “Under the Biden Administration, consumers have suffered through a period of regulatory uncertainty that has devalued the digital assets they hold and limited their utility,” Bligen wrote.
“He has committed to courting the cryptocurrency vote and has reportedly raised millions from founders and investors. However, you can still win this issue,” Bligen wrote. In contrast, Trump has shown strong support for crypto in recent months, accepting donations in cryptocurrencies, and has also gained backing from Gemini's Winklevoss twins and Ark Invest CEO Cathie Wood, despite previously being critical of the industry.