Biden's Exit Creates Opportunity for Democrats to Embrace Crypto

IconCryptoNewsTerminal Staff21 Jul, 2024

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Biden's Exit Creates Opportunity for Democrats to Embrace Crypto

President Joe Biden's withdrawal from the race creates a "new opportunity" for Democratic candidates to embrace crypto and blockchain technology, a pro-crypto advocacy group says. "It is now time to articulate a bold vision for America that embraces the innovation of new finance while ensuring our global competitiveness in the digital asset industry," the Cedar Innovation Foundation said. The group's statement comes as the Democratic field is narrowing, with several high-profile candidates dropping out in recent weeks. The remaining candidates are now jockeying for position ahead of the Iowa caucuses, the first major contest in the Democratic primary process. It remains to be seen whether any of the candidates will take up the Cedar Innovation Foundation's call to embrace crypto. However, the group's statement suggests that there is a growing appetite for crypto and blockchain technology among Democratic voters. If the Democratic Party does embrace crypto, it could have a significant impact on the industry's development. The party's support could help to legitimize crypto and make it more accessible to mainstream investors.

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