Democratic presidential candidate blasts Biden and Trump on crypto: ‘Not the right people to lead’

Dean Phillips, a member of the United States House of Representatives running against Joe Biden for the Democratic nomination in the 2024 presidential election, said there are currently “very few” people in Congress who understand digital assets.

Speaking at the Crypto Presidential Forum in New Hampshire on Dec. 11, Phillips

At the time of publication, all the presidential candidates who spoke at the Crypto Presidential Forum were trailing by more than double digits to President Biden and Trump, respectively, according to many polls. Ramaswamy has been one of the most outspoken Republicans on digital assets, releasing a crypto-focused policy platform at the North American Blockchain Summit in November.

While Trump’s campaign has delved into aspects of the digital asset space — selling his own line of NFTs — the former president has rarely spoken publicly on cryptocurrency. President Biden issued an executive order in 2022 to establish a regulatory framework for digital assets. Under the Biden administration, Justice Department officials have charged former FTX CEO Sam Bankman-Fried, former Binance CEO Changpeng Zhao and former Celsius CEO Alex Mashinsky.

Phillips suggested that disfunction within Congress had contributed to crypto bills not being signed into law, including the Financial Innovation and Technology for the 21st Century Act, or FIT21. The bill, among others, has yet to face a full vote in the House following potential government shutdowns and Republican lawmakers dragging their feet on choosing a new House Speaker.

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