A prominent Democratic leader warns his party risks losing crucial voter support by failing to adopt pro-crypto policies. The appeal comes as Republicans gain traction with digital asset advocacy ahead of the 2028 election cycle.
Former Virginia Governor Terry McAuliffe urges Democrats to support cryptocurrency innovation, citing polling showing 67% of Americans want clearer crypto regulations. The lifelong Democrat highlights how blockchain technology creates jobs and provides financial access to underserved communities, particularly benefiting minority groups and young voters.
McAuliffe points to the GENIUS Act as a legislative opportunity to establish balanced stablecoin regulations. The proposed framework could enable near-instant, low-cost dollar transfers using blockchain networks like Solana – a potential improvement over traditional banking systems that charge 3-5% transaction fees.
The warning follows Republican gains among crypto-friendly voters, with Donald Trump and other GOP leaders actively embracing digital assets. McAuliffe argues Democrats risk alienating core constituencies unless they champion policies that position America as a global crypto leader rather than resisting technological change.
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CryptoFeedHub Note: This article is a rewritten summary based on external reporting. Original source: CoinDesk