Democrats Say They Can Support Crypto While Calling Out Trump

[Celerity]

The president and other Republicans have benefited politically and financially from being friendly to the industry.

https://www.notus.org/technology/democrats-cryptocurrency-policy-funds

https://archive.ph/xiWwR

Sen. Ruben Gallego (D-AZ)

Democrats have consistently called out President Donald Trump’s involvement in cryptocurrency businesses that they allege are corrupt. At the same time, Democrats say they need to shake the impression that the party is hostile to crypto — both to win voters and funding.

Rep. Salud Carbajal, a centrist Democrat, said calling out Trump’s crypto schemes and supporting a good regulatory environment for crypto are two “separate” issues, and Democrats must treat them as such. “Whether it’s crypto or negotiations with other countries, this administration has demonstrated a corruption level that we’ve never seen before,” Carbajal told NOTUS. “Democrats are involved in crypto, and as we develop policy, we want to make sure that crypto is able to flourish,” he added. “There’s also interest in protecting consumers. So, it’s all about finding the balance to achieve a win-win scenario.”

Democrats are attempting to walk a tight rope on crypto, including on the GENIUS Act that would establish a regulatory framework for stablecoins, a kind of cryptocurrency tied to physical assets like the dollar. Sen. Ruben Gallego, who has been a leading Democratic voice in the bipartisan GENIUS Act negotiations, said supporting crypto is part of the path forward for Democrats in regaining support from Black and Latino men, two constituencies they struggled with during the 2024 presidential election.

“The Black and Latino men are telling you that they care about the standard of living, the cost of living, jobs — and they care about crypto,” Gallego said. “The way you get them back is to work on legislation that they’re going to appreciate,” he added. “That’s going to show that the Democrats understand the crypto economy, and that’s going to make it easier and safe for them to engage in that. And that’s the winning message.”

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