Bill Hagerty: Democrats' Crypto Stance 'Gut Crypto' While GOP Backs The Industry

Bill Hagerty: Democrats' Crypto Stance 'Gut Crypto' While GOP Backs The Industry

Senator Bill Hagerty (R-TN) has criticized the Democratic Party for its lack of support for cryptocurrencies, saying that the party's platform "reaffirms what they've done for the last four years, which is to gut crypto." Hagerty's comments come after Fox Business reporter Eleanor Terrett tweeted that the Democratic Party's just-released platform reportedly makes no mention of blockchain or bitcoin. "Democrats pay lip service to crypto all while being openly hostile to this transformative technology," Hagerty said in a statement. "The lack of pro-crypto policy in their platform simply reaffirms that they will continue doing what they've done for the last four years." Hagerty's comments are in line with the Republican Party's pro-crypto stance. In July, the Republican National Committee (RNC) adopted a resolution supporting the development of digital assets and blockchain technology. The RNC's resolution calls for the creation of a "clear and consistent regulatory framework" for digital assets, and it also supports the development of a "national strategy" for blockchain technology. The Democratic Party's platform, on the other hand, makes no mention of cryptocurrencies or blockchain technology. The platform does, however, call for increased regulation of the financial industry, which could have a negative impact on the crypto industry.