No mention of crypto in the Democratic Party’s 2024 platform

Contrary to weeks of messaging from the Harris-Walz 2024 presidential campaign and senior Democrat officials promising a crypto ‘reset’ pivoting from the anti-crypto policies of the Biden administration, the 2024 Democrat Party platform made no mention of cryptocurrencies or digital asset policy.

The 91-page party platform touched on everything from “corporate greed,” housing, and education, to US foreign policy and geostrategic power.

Cost-cutting was a recurring theme in the lengthy document, yet nowhere in the party platform were solutions to tackle the core issue of rising costs due to monetary debasement or austerity measures to control the spending of the US government, which currently has a staggering $35 trillion in debt.

In fact, the exact opposite tended to be true, with multiple calls to increase government spending through expanded social entitlement programs and protecting Social Security, which the House Budget Committee admitted was on the path to insolvency in May 2024.

The sincerity of the crypto 'reset' comes under fire

Promises by the Harris campaign to reverse the crypto policies under the Biden administration have been met with suspicion from industry executives and crypto investors alike.

Fred Thiel, CEO of MARA, recently told Cointelegraph that he did not expect to see any mention of Bitcoin (BTC) in the Harris platform and explained the Bitcoin mining giant might consider opportunities outside of the United States depending on who wins the 2024 presidential election.

At a recent campaign event for Harris titled "Crypto4Harris", Senate majority leader Chuck Schumer promised voters pro-crypto policies if Kamala Harris was elected President in November. During the meeting, which Schumer attended virtually, the senior Democrat leader cited the geostrategic implications of not embracing digital assets. Schumer opined that if the United States does not innovate on digital assets, other countries will.

Any hope of a turnaround between now and November?

The Democratic Party will vote on finalizing its 2024 platform on Aug. 19, 2024. While experts believe the platform will likely be passed exactly as written, others, like Vivek Ramaswamy, believe that Harris and the Democratic Party may change their tune on digital assets.

On Aug. 13, the former Republican presidential candidate told CNBC that he expects the Harris campaign to pivot on crypto, even if only through rhetoric and campaign promises, in order to garner votes from single-issue crypto voters.