The Democratic Party's 2024 platform excludes any mention of Bitcoin, signaling a continuation of the administration's cautious approach.
The Democratic Party's 2024 platform, released on the first day of the Democratic National Convention (DNC), notably excludes any mention of Bitcoin. This decision is consistent with the Biden-Harris administration's past approach to the industry, which has often been viewed as unfriendly toward Bitcoin.
No mention of #Bitcoin or crypto in the Democratic Party platform.
— TFTC (@TFTC21) August 19, 2024
The platform begins with a “land acknowledgement.” pic.twitter.com/wd79etd0Bh
Despite the increasing importance of Bitcoin in the global financial landscape, the Democratic ticket, led by Kamala Harris and Tim Walz, has not prioritized the inclusion of these technologies in their official agenda for the upcoming presidential election. This omission comes at a time when the Republican Party has embraced Bitcoin, making it a central part of their platform. The GOP has pledged to end what they describe as the Democrats' "unlawful and un-American crypto crackdown" and oppose the creation of a Central Bank Digital Currency (CBDC). They have also vowed to protect the right to mine Bitcoin, ensure Americans can self-custody their digital assets, and maintain financial privacy from government surveillance.
The stark contrast between the two parties' approaches was highlighted when Republican presidential candidate Donald Trump spoke at the Bitcoin 2024 Conference in Nashville, expressing strong support for the industry. Kamala Harris, the Democratic presidential candidate, declined to participate in the event. Independent candidate Robert F. Kennedy Jr. also spoke at the conference, voicing his support for Bitcoin and further emphasizing the growing political divide on this issue.
As the 2024 election draws near, the absence of Bitcoin from the Democratic platform could impact the voting decisions of an estimated 50 million Bitcoin and crypto holders across the United States who are seeking a candidate to advocate for their interests.
Fox Business reporter Eleanor Terrett noted that the Democratic platform was approved prior to President Joe Biden's withdrawal from the race, and DNC delegates are expected to vote on the platform as it stands. It remains unclear whether any new additions will be made to reflect Harris's positions on the matter.
🚨NEW: I’m reading that the party platform was actually written and approved prior to @POTUS dropping out of the race, which is why you see so many mentions of him and even references to his second term.
— Eleanor Terrett (@EleanorTerrett) August 19, 2024
Convention delegates will vote on the platform tonight but it’s expected… https://t.co/92gb3BCLfv
