Democrats and Republicans clear Crypto regulation Grayscale survey hack


Democrats and Republicans can stop squabbling like kids over one thing: cryptocurrencies. Most lefties and righties see cryptocurrencies as the “future of finance.”

a new poll shows that cryptocurrencies can be the force that stops the great divide between the political camps. But, Americans want established rules and regulations. The need for regulation is also another thing that Democrats and Republicans agree on. 59% of Democrats and 52% of Republicans supported the introduction of rules and regulations. Regulation is one of the most discussed agendas in crypto circles.

Cryptocurrencies are slowly making their way into the mainstream. And celebrities have jumped on the salsa bandwagon. Anyone from Baseball Hall of Famer David Ortiz (who has been plugging FTX in a number of commercials) to Matt Damon representing Crypto.com are in on the action.

But what about the political front?

Regarding regulations on cryptocurrencies, House Democrats and Republicans appear to be aligned on a love for cryptocurrencies. Representatives from both sides took a combined approach, urging the need for regulatory action to fight bad actors in crypto. Oh beautiful

However, some differences remain as we approach the midterm elections in 2022. The US midterm elections 2022 on November 8 could have huge ramifications for the crypto industry.

Democrats and Republicans: where do you stand?

President Joseph Biden signed an executive order earlier this year on “Ensuring Responsible Development of Digital Assets.” The president said it was designed to “protect consumer rights and investor rights.”

This is the opposite action of the previous president, Donald Trump, who is a crypto skeptic.

Biden’s first framework for “responsible development of digital assets” fixed:

“Since taking office, the Biden-Harris Administration and independent regulators have worked to protect consumers and ensure fair play in digital asset markets by issuing guidance, increasing enforcement resources, and pursuing aggressiveness of the fraudulent actors”.

Whether this will actually happen is another story. But at least there was a change in the narratives compared to the previous ruling party.

Former US President Donald Trump never missed an opportunity to voice anti-crypto sentiments.

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Trump remains a vocal supporter of fiat currency and the US dollar. Mike Pence, the former vice president, also jumps on this bandwagon. Many have accused Trump and Pence of being out of touch and ready for the retirement village by taking an anti-cryptocurrency stance. However, the views of Trump and Pence may change: the old guard of the Republicans seems to be changing.

Candace Owens, the American conservative author and commentator, stated that she was “finally interested in cryptocurrencies.” Owens is highly influential when it comes to conservative opinion. And also her husband. She is married to George Farmer, the CEO of the conservative social media platform. talking. If anyone can push Republicans over the edge with crypto integration, it’s them.

Vote to fill these gaps

The exponential growth of cryptocurrencies and the broader Web3 space means that the issue of regulation is coming to a head.

Grayscale Investments researched American opinion in a poll about the current state of cryptocurrencies. Even the leaders of the countries participated in this survey. Regarding regulations, “81% agree there should be clearer regulation of the cryptocurrency industry, including 88% of Democrats and 77% of Republicans.”

Michael Sonnenshein is the executive director of Grayscale CEO. The said, “As we head into the midterm elections, American voters are considering the intersection of cryptocurrency, traditional finance, and the state of the economy. This survey reinforces that cryptocurrencies continue to generate interest and engagement from mainstream and diverse investors.”

US voters Midterm elections Democrats and Republicans crypto regulation

Regulations: Do or Don’t

Aside from the United States, regulators around the world are looking to jump on the regulation bandwagon. EU Financial Services Commissioner Mairead McGuiness urged US lawmakers to create crypto regulations and international industry standards.

Regulations can boost three key aspects of the industry: stability, investor protection, and trust.

Crimes within cryptocurrencies have grown significantly in the last two years. scammers looted $14 billion in crypto in 2021. This is another record compared to the $7.8 billion taken by scammers in 2020.

However, there are some in the cryptocurrency industry who think that there should be no regulation at all and that government involvement in the cryptocurrency industry goes against the ideals it was built upon.

As the regulation debate rages on, it appears that the Democrats and Republicans have buried the axe, on the crypto front anyway.

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