Digital Assets May Figure in 2024 US Elections, Hints Libertarian VP Nominee
Summary:
Libertarian vice presidential nominee Mike ter Maat suggests digital asset policy could hold minor relevance in the 2024 US elections. While he anticipates inflation and foreign affairs to be of more concern to voters, cryptocurrency may still figure into campaign discussions. Neither Democrats nor Republicans seem to have found common ground with the Libertarians on digital asset strategy. Ter Maat and his running mate, Chase Oliver, believe further federal regulation for digital assets is unnecessary. The Libertarians could potentially influence election outcomes by drawing enough votes away from either main party.
The 2024 US elections could see digital asset policy become a minor point of discussion among political parties, according to Libertarian Party VP candidate Mike ter Maat. On May 26, the party announced ter Maat and Chase Oliver as their presidential and vice presidential nominees, representing the third most prominent political party in the US. The party's beliefs often resonate with the interests of cryptocurrency owners mainly due to their proclivity for limited regulations and support for free-market economic strategies.
Post-nomination, ter Maat confirmed with Cointelegraph that, while he expects inflation and foreign policies to dominate voter concerns come November, cryptocurrency will potentially have a role to play in the election. Cryptocurrency rhetoric appears to have intensified amongst Democratic and Republican candidates in light of Congress considering crypto bills, ongoing crackdowns on crypto businesses, and legal actions against notable figures in the crypto environment.
Ter Maat added, "I would admit, technology at large and finance beyond cryptocurrency could play a more significant role." He expressed his desire to witness cryptocurrency rise to the level of a national debate but refrained from asserting any expectations of such.
Present US President Joe Biden and VP Kamala Harris are predicted to receive Democratic nomination during the party's national convention in August. Former President Donald Trump is expected to do the same at the Republican convention in July. This follows his announcement of a VP choice, despite his scheduled sentencing for 34 felony convictions due days prior.
Ter Maat noted a lack of "common ground" in digital asset strategy between the Libertarian applicants and members of other parties. Independent candidate Robert F. Kennedy Jr. brought to the table a set of tech principles distinct from that of the Libertarians. Ter Maat felt Trump to be a candidate who seldom made concise statements that substantiated a nuanced issue.
About the battles over digital asset policy, ter Maat uttered, "I don't necessarily see one party or another succeeding in thrashing out a resolution over digital assets enough to sway the election results substantially."
He remarked upon his and Oliver's shared belief that this asset class did not require any new federal government regulations. Their concerns sprouted from incidents of misappropriation of others' resources by certain entities.
Ter Maat has publicly opposed any legislation that would authorize the Fed to introduce a digital dollar in the US. In his view, any involvement of the Fed or any central bank in digital assets would incentivize them to craft regulations that favor their currency and impede the development of other cryptocurrencies.
Though the Libertarian Party won near 3% of votes in the 2016 presidential contests, considering how the party might pull enough votes from either Biden or Trump could alter the outcome of the US election. Even with a looming felony conviction, Trump could still run for presidency, even from behind bars. Some US voters are having second thoughts about supporting Biden with his endorsement of Israel amidst their ongoing war on Gaza.
Published At
6/10/2024 9:57:38 PM
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