Anthony Scaramucci is the founder and managing partner of SkyBridge Capital and the founder and chairman of SALT. Kristen Smith is the CEO of the Blockchain Association.

Last month, in remarks to a crowd of supporters, former President Donald Trump added new momentum to the November election — and reignited the debate about the future of the digital asset industry in America — by announcing , “…if you’re in favor of crypto you better vote for Trump. It wasn’t subtle, but it was an acknowledgment of the growing importance of crypto as a hot-button political issue. Other elected officials and Candidates for the post should pay attention.

According to recent polling by DCG and The Harris Poll, Americans are eager for candidates to discuss crypto more prominently. One in five registered voters in battleground states think crypto will be a big issue in the upcoming election — a percentage that no one can say.

Trump must have been listening as he moved to embrace this growing group of voters. That same day, President Joe Biden threatened to veto legislation to repeal a harmful anti-crypto provision from the SEC, a promise he followed through last week. Differing views on the future of crypto in the U.S. could be an important lever in key swing states in November.

More than 50 million Americans own crypto, but despite America’s interest in and support for digital currencies, the current administration plans to kill digital asset innovation and send jobs overseas. Crypto is an inherently neutral issue — elected officials on both sides of the aisle can, and do, find ways to adopt the technology. Progressives, in particular, should appreciate the devolved power-to-the-people nature of decentralized systems that eliminate the tyrannical power of big banks and big tech. Nevertheless, the current administration and some left-leaning members of Congress, including Sen. Elizabeth Warren (D-Mass.), digital assets are making it harder for voters to be heard on both sides of the aisle.

Crypto is a network of services that is inherently neutral and has the potential to solve many of the problems that both parties face in the current financial system. Conservatives generally support crypto for its liberal promise of decentralization — allowing individuals to have full autonomy over their assets and without the need for financial intermediaries or sacrificing privacy to an intrusive government. Exchangeability. Meanwhile, progressives must embrace the fact that crypto is a potential antidote to the power that commercial monopolies have over our lives. Decentralized networks can provide low-cost services to millions of people who are underserved by the current financial system.

Crypto presents a rare opportunity for lawmakers seeking to build lasting relationships and goodwill with a largely untapped block of the voting base. Crypto users tend to be young, diverse, and forward-thinking—all of which, you could argue, would make crypto adopters a natural constituency for Democrats. By engaging on the substance of crypto’s potential, Democrats could reap rich rewards in November.

However, the majority of the Democratic congressional caucus, broadly, supports the development of a domestic crypto ecosystem. There are exceptions within the party, but many in positions of power continue to disparage technology, framing the industry as an unregulated “wild west,” an unfortunate and inaccurate characterization. Their recent skepticism is largely rooted in concerns about consumer protection and illicit finance, two areas where the crypto industry is willing to cooperate with our partners in government.

Democratic thinking must change and evolve. Happily, there are early signs that this message is breaking through. Despite Biden’s veto, Democrats in Congress nevertheless joined the repeal of SAB 121, the SEC’s punitive, anti-crypto accounting guidelines, and 71 members of the Democratic House delegation voted for the FIT21 market structure bill. These are positive developments that should be celebrated, while urging Democrats to do more.

Democrats have an opportunity to protect the next generation of American innovation and reach a new set of voters. In the increasingly polarized political environment we find ourselves in today, the ability to draw on an expanding community — such as the crypto ecosystem — can mean the difference between winning and losing a close election.

The digital asset industry is unfairly targeted and feels backed into a corner, a situation that could push the industry overseas, depriving the U.S. of current advantages. Trump’s remarks to a roaring crowd at Mar-a-Lago should be a wake-up call to Democrats: Embrace crypto and its young, tech-savvy voters — or someone else will.

The opinions expressed in commentary pieces are solely the views of their authors and do not necessarily reflect their views and beliefs. good fortune.

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