Uniswap Founder Reflects on Biden Administration’s Crypto Policies Amid Campaign
According to Adams, there is a worrying action perceived as critical oversight targeted at the crypto industry that needs urgent rectification
Biden Administration's Approach is a Misstep
According to Adams, there is a worrying action perceived as critical oversight targeted at the crypto industry that needs urgent rectification. Interestingly, his criticism focuses on the "fight" against the broader shift within the financial sector marked by the prominent emergence of relevant cryptos.
With this happening, the traditional financial sector has been confronted with an unnegotiable decision to adjust and adapt to this change. This, according to Adams, is evident in the recent reports that 40% of US adults are somehow engaged in digital assets.
In addition to this, Adams hinted to have observed missteps in this administration's approach, referencing Hillary's campaign decision to focus on "red states" rather than "swing states". Per his observation, there is a huge belief within the Biden camp that cryptos would not be a significant factor in the 2024 election. To him, this is a serious miscalculation that could cost them the election.
Hillary campaigning in red states instead of swing states level miscalculation from Biden's camp thinking crypto will be irrelevant in the 2024 election and letting SEC + Warren wage total war – both in terms of voters and money. Republicans smell blood in the water and are turning hard towards crypto. Not much time for Biden to save it. Anyone close to him or dem leadership should be expressing how serious this is and pushing for immediate reversal on his approach to crypto (public support/plan and reigning in sec + warren).
Uniswap Founder Makes Suggestion
To correct this, Adams suggested the implementation of proactive measures which include open support for cryptos and a re-evaluation of the SEC's approach under Senator Elizabeth Warren's leadership.
Contrary to the Biden administration's approach, Independent U.S. presidential candidate Robert F. Kennedy Jr. seems to be appealing to the public with open support for the asset class. Recently, he was reported to be set to speak at the Consensus 2024 crypto conference in Austin, Texas, where he would explain his support for the asset and self-custody.
I'm looking forward to speaking later this month at Consensus 2024. I am determined to keep America the world leader in blockchain innovation. […] We can't allow hostile regulators to drive this technology abroad.
RFK Jr. has also disclosed to have bought some Bitcoin, and planning to buy some Ethereum after making a massive appearance at the ETHDenver. To him, transactional freedom is as important as freedom of expression. He also expressed his displeasure with the Central Bank Digital Currency (CBDC), claiming he could push for anti-CBDC legislation via executive orders to stop it.
I don't think there's anybody using a podium or a bully pulpit to explain to the American public how inconsistent central bank digital currencies are with our values and how threatening they are to our constitutional rights.
