Cryptocurrencies were left out of a letter sent Sunday by Senate Majority Leader Chuck Schumer (D-NY) to outline the Senate’s priorities. But he did include artificial intelligence.
Schumer’s letter comes amid bipartisan efforts to prevent a government shutdown, with government funding set to expire on September 30. His “Dear Colleague” letter highlighted rail safety, prescription drugs, AI, but left crypto out after he strongly supported efforts to pass regulation just a month ago at the Crypto4Harris town hall.
At the town hall meeting, Schumer said, “Washington can’t just look away from crypto,” pledging to push for crypto regulation by the end of the year.
As we saw last month, the Democratic National Committee (DNC) unveiled its official platform. It was noted then that Democrats made no mention of cryptocurrency or blockchain technology in the nearly 100-page document.
This is in stark contrast to the Republican platform, which includes several pro-crypto positions. The Republican platform, officially adopted in July, pledges to “defend the right to mine Bitcoin and ensure that every American has the right to control their own digital assets.”
Trump himself has made numerous promises to the crypto industry during his re-election campaign appearances, including supporting Bitcoin mining by U.S. companies and firing Securities and Exchange Commission Chairman Gary Gensler.
Democrats’ interest in artificial intelligence also comes amid growing support for cryptocurrency in political and business circles. Former Ripple Labs CEO Chris Larsen recently endorsed Kamala Harris in her 2024 presidential bid, joining a coalition of 88 business leaders backing her campaign.
As the Senate resumes, Schumer concludes his letter by reaffirming the need for bipartisan unity and cooperation to address the most pressing challenges. “Finding compromise is never easy, but we know it is the only path to getting results for the American people,” he writes.
It remains to be seen whether cryptocurrency regulation will once again become a legislative priority, but for now, artificial intelligence is at the center of Washington’s policy agenda.
Edited by Stacy Elliott.
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