Vice President Kamala Harris's recent moves in the cryptocurrency space have sparked lively discussions and speculation. As the U.S. prepares for a possible shift in its approach to digital assets, Adam Swick, chief growth strategist at Marathon Digital Holdings and upcoming speaker at Benzinga’s Future of Digital Assets event, offers his perspective on the potential impacts.
Swick suggests that bipartisan support might be inevitable, considering the substantial efforts and growing influence within the crypto industry.
Urging Bipartisan Support
Swick finds Harris's recent actions promising, highlighting the bipartisan nature of cryptocurrency discussions. "It's encouraging to see all sides and all people talking about crypto and how it can beneficially impact the country. It is a truly bi-partisan issue," Swick said.
He believes that both political parties will eventually support the crypto industry due to its undeniable impact and growing influence. However, he cautions against complacency, stressing the substantial effort that has brought the industry to its current point.
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Practical Policy Changes
When discussing potential policy changes, Swick emphasizes the need for a thorough review of existing regulations and the individuals responsible for their enforcement.
"Policymakers will have to take a hard look at not only the rules in place, but who is making the rules, and who is enforcing the rules. This will cover everything from crypto trading to issuances to mining," he explained.
Swick acknowledges the complexities of regulating an industry that touches many aspects of everyday life, highlighting both the challenges and opportunities that cryptocurrency presents.
Aspirations For Greater Understanding
Swick hopes for a deeper understanding of cryptocurrency at the governmental level. "I personally hope to see people taking the time to really ask questions and understand what is Bitcoin, what is crypto, what is the blockchain, and how it impacts the world," he said.
He emphasizes the importance of moving beyond superficial knowledge, as the technology’s intricacies require thorough exploration. Swick believes that everyone's crypto journey is unique and that the government should recognize and support this diversity.
The Path Forward
Swick’s insights highlight the potential for substantial changes in the regulatory landscape of cryptocurrency, driven by Harris’s recent engagement with the sector. His comments point to the need for informed policymaking embracing digital asset complexities.
These developments will be a central topic at Benzinga’s Future of Digital Assets event, scheduled for Nov. 19, 2024, in New York City. This event will bring together digital asset companies and institutional investors for a day of intensive networking and discussions on the future of digital finance.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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