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The U.S. Vice President's economic plan involves digital assets, and the encryption community has mixed reactions.
The U.S. Vice President’s economic policy involves digital assets, and the encryption community’s reactions vary.
Recently, the U.S. Vice President stated during a speech at the Pittsburgh Economic Club that the United States will be committed to maintaining global leadership in technology sectors that will define the next century, including emerging technologies such as artificial intelligence, quantum computing, and blockchain. In addition, her 80-page economic plan once again mentions “digital asset.”
At a fundraising event in New York City, the Vice President broke her usual silence and stated that she would encourage the development of innovative technologies such as artificial intelligence and digital assets, while protecting the rights of consumers and investors. This event raised $27 million for her, setting a personal record for presidential campaign fundraising.
However, the cryptocurrency community has mixed feelings about the Vice President’s first mention of “digital assets.” Some believe her stance lacks specific details. Nevertheless, polls show that her support rate among cryptocurrency holders is still behind former President Trump.
In this 80-page economic plan, the Vice President again mentioned “digital asset” and placed it alongside artificial intelligence. The plan is titled “Opening New Pathways for the Middle Class: A Plan for Reducing Costs and Creating Economic Opportunities,” outlining how to “enhance America’s competitive advantage in areas critical to the economy and national security.”
The plan proposed a “Forward Strategy for America” aimed at opening a new era of industrial development in the United States by promoting manufacturing growth and the application of new technologies. This strategy not only focuses on “clean iron and steel” but also emphasizes “emerging technologies,” which they believe are crucial for maintaining America’s global technological competitiveness.
“The strategy includes investment in emerging technologies and modernization of traditional industries. It will also encourage the development of innovative technologies such as artificial intelligence and digital assets, while protecting our consumers and investors,” the plan mentioned.
In contrast, former President Trump has been very active in the encryption field recently. He publicly announced his support for cryptocurrencies and Bitcoin, attended a Bitcoin conference, proposed a U.S. Bitcoin Strategic Reserve plan, and launched an NFT series. These actions have further deepened his influence in the encryption community.
The encryption community has given different feedback on the vice president’s stance. The CEO of a decentralized telecommunications network expressed a desire to hear more specific policy information. Another senior software engineer at a payment company also believes that the description of digital assets in the economic plan is “too vague”.
However, some cryptocurrency advocates believe that the Vice President’s position on emerging technologies has made progress. An analyst stated that despite opponents being unhappy with their “ambiguous attitude,” the current situation still represents a form of progress.
According to a national poll, among the overall electorate, 50% support the Vice President and 43% support Trump. However, among potential voters who own digital assets, Trump leads by 12 percentage points (50% to 38%). The poll shows that 15% of respondents indicated that they own or have ever owned cryptocurrencies, NFTs, or similar digital products.
Currently, it remains to be seen whether the vice president’s team will elaborate more on their policies regarding blockchain, digital assets, especially in terms of encryption, in the upcoming campaign activities. However, with less than two months left until the election, most crypto voters hope to hear clear and targeted positions.