Senator Chuck Schumer, the current US Senate Majority Leader, recently expressed support for passing pro-crypto legislation. In fact, the target is to achieve this by the end of 2024. The initiative is part of his broader vision to position the United States as a global leader in crypto technology.
Schumer Recommends Positive Crypto Legislation in 2024
Schumer announced this ambition during a speech Crypto4Harris Town Hall Meeting. The meeting focused on advancing crypto-friendly policies within Kamala Harris’ campaign for president.
Senator Schumer emphasized that it is important for the United States to create a clear and supportive legal foundation for the crypto industry. According to him, the US lags behind other countries that have already taken progressive steps in crypto regulation.
“We can’t stand aside because we run the risk of crypto going overseas, to countries with minimum standards, where there will be no regulation,” Schumer said.
Thus the Senate President indicated that Kamala Harris would not be directly against crypto. Especially now that the crypto industry has grown significantly in recent decades. So the goal is to introduce pro-crypto legislation by the end of this year.
“I want to bring members from both sides of the aisle together in the Senate and build momentum so we can pass meaningful legislation that will help America maintain its position as the world’s most innovative country.”
Schumer’s stance is to at least protect crypto users. So crypto should definitely not be used for fraud or criminal activities. The conclusion is that the government should provide ‘guardians’ to the crypto world. The term AI, or artificial intelligence, was also added.
Harris is more progressive than Biden on crypto
The Crypto4Harris event is about shaping Harris’ crypto policy. It is thought that Harris will agree with withdrawal candidate Joe Biden. But even though the two represent the same political party, Harris seems to want to adopt a slightly more pro-crypto policy. Whether this actually happened remains to be seen.
Donald Trump, a staunch supporter of cryptocurrency, opposes Harris. He has said he wants to end Joe Biden’s war on crypto. That was the former president’s promise during a speech in West Palm Beach, Florida.
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