Coinbase-backed lobby urges ABC to ask Trump, Harris about cryptocurrency | Wilnesh News

A large purple bus emblazoned with “AMERICA ❤️ CRYPTO” began traveling through five battleground states last week on a mission to canvass votes ahead of the presidential election.

This event was originally sponsored by Coin libraryhas a short-term goal: to raise an encryption issue during Tuesday night’s debate.

this Stand with the Cryptocurrency Alliancecreated last year, Start a petition Five days ago, ABC News was pressured to raise the issue of encryption during the first (and perhaps only) presidential debate between Donald Trump and Vice President Kamala Harris.

The group has hosted 2,500 debate watch parties across the country and has had more than 2,000 people sign a pre-drafted letter on its website.

“I am one of the 52 million Americans who own cryptocurrency,” the letter reads. “On behalf of myself and all U.S. cryptocurrency owners, I urge you to ask the candidates about their stance on cryptocurrencies and their role in the U.S. economy. status.”

In recent months, Trump has marketed himself as a pro-cryptocurrency candidate. Harris has yet to state her official stance on digital assets, but the Biden administration’s crackdown on the industry has created an opportunity for the former president.

Trump has pledged to fire SEC Chairman Gary Gensler, who has taken action against companies including Coinbase. In addition to presidential campaigns, the organization supports crypto-friendly politicians in Congress seeking more favorable laws. In May, the House of Representatives passed 21st Century Financial Innovation and Technology Actwith the help of more than 70 Democrats.

“Bipartisan encryption legislation has passed the House of Representatives, and more and more elected officials are coming out in support of encryption,” the letter states.

ABC did not immediately respond to a request for comment.

On its website, the alliance gave Trump and his running mate, Ohio Sen. J.D. Vance, an “A” grade for their support of cryptocurrencies. For Harris and Minnesota Governor Tim Walz, the group gave a “not applicable” rating and said its “position on cryptocurrencies has yet to be determined.”

Many cryptocurrency enthusiasts see the November election as a defining moment for the industry, and they show up with their wallets in hand. According to a Public Citizen report, nearly half of corporate donations this cycle came from cryptocurrency companies.

Stand With Crypto’s tour of battleground states is more about getting out the vote than raising cash. The group has been trying to get presidential candidates to talk about the issue for months.

The coalition previously sent 2,300 emails to CNN asking for encryption issues ahead of Trump’s presidential debate with then-presumptive Democratic nominee Joe Biden. There is no mention of this topic on the Internet.

Through online and in-person efforts, Stand with Crypto has attracted 104,000 people to sign up through its voter registration tool. Along the way, the band played concerts and spoke to large crowds of fans.

The bus tour kicked off last Wednesday in Phoenix, where Sen. Kyrsten Sinema, a former Democrat turned independent, fired up the crowd with an impassioned speech about electing lawmakers who understand cryptocurrency.

“Smart, sensible regulation allows the industry to continue to innovate and grow – that’s what we have to focus on,” Sinema said.

The bus then headed to Las Vegas, where cryptocurrency advocates heard from the state treasurer and the lieutenant governor’s chief of staff. According to data shared by the coalition, 385,000 Nevadans are cryptocurrency owners and more than 16,000 people in the state have registered as cryptocurrency advocates.

Arizona and Nevada are two of the seven states considered critical, with less than two months until Election Day and the race effectively tied. This week, crypto buses will make stops in Michigan, Wisconsin and Pennsylvania, also among key swing states.

The final event will be held on September 18 in Washington, DC.

The movement has not fully endorsed Trump.

Coinbase head of policy Faryar Shirzad will also speak in Washington, saying on X He was “pleased to participate in some discussions” with Harris’ team. He described the approach as “constructive” and said “dialogue is an important first step.”

Although Harris has yet to formally state her campaign stance on cryptocurrencies, members of her team have been meeting with cryptocurrency industry leaders for months.

“I think we’ll be hearing from Vice President Harris on this very soon,” Rep. Wiley Nickel, D-N.C., said in July on the sidelines of the year’s largest Bitcoin event in Nashville. CNBC said in an interview. “I’m very optimistic that we’re going to have a reset. I think that’s going to play a big part in that.”

California Democratic Rep. Ro Khanna also told CNBC at the time that he had been having conversations with Harris’ team on the issue.

Since then, Democrats have become more vocal. During a virtual town hall in August, Senate Majority Leader Chuck Schumer said a cryptocurrency bill could be passed this year.