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Home News Latest News

Uniswap Founder Calls for Urgent Action on Biden’s Approach to Crypto

13 May 2024
in Latest News, News
Reading Time: 3 mins read
104 4
Uniswap Founder Calls for Urgent Action on Biden's Approach to Crypto

source: dlnews.com

Uniswap’s founder, Hayden Adams, has suggested that U.S. President Joe Biden and Democrats must quickly change their stance on cryptocurrencies and related technologies. 

In a recent statement, Adams emphasized the growing importance of crypto in the political landscape, particularly as Republicans increasingly embrace digital assets as a critical campaign issue.

“Republicans smell blood in the water and are turning hard towards crypto,” Adams declared in an X(formerly Twitter) post on May 13, 2024. “Not much time for Biden to save it.”

Adams highlighted a strategic error in the Democratic camp’s perception of the role of cryptocurrencies in the upcoming 2024 election, warning against underestimating its significance. He urged top-level officials in the Biden administration to push for “immediate reversal” of the president’s approach, including creating a plan and reigning in the U.S. Securities and Exchange Commission(SEC). 

Adams’ deep involvement in the crypto space and his leadership role at Uniswap lend weight to his calls for action on crypto policy. Meanwhile, his remarks come amid growing scrutiny of the cryptocurrency industry from regulators and policymakers. 

However, despite mounting pressure, the Biden administration has stood firm on its regulatory stance, aligning with figures like Senator Elizabeth Warren and the U.S. SEC. They made moves to tighten regulations on cryptocurrencies, citing concerns about investor protection, financial stability, and illicit activities such as money laundering and terrorism financing.

RELATED: U.S. SEC Files Final Reply in Ongoing Ripple Lawsuit

Notably, Senator Warren has been a vocal critic of the crypto industry, calling for stricter regulations to address what she perceives as systemic risks. 

RELATED: Elizabeth Warren Concerned About Potential Senate Challenge from Pro-XRP Lawyer

Meanwhile, former President Donald Trump, also a leading Presidential candidate for the Republican party, has positioned himself as a champion of crypto-friendly policies, aiming to capitalise on the support of crypto voters. Bitcoin Magazine CEO David Bailey recently revealed efforts to work with Trump on a “comprehensive executive order” aimed at fostering favourable conditions for the crypto market.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

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Tags: BidenTrumpUniswapUS Elections
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Anuoluwapo Obisesan

Anuoluwapo Obisesan

Experienced in crafting clear, user-friendly documentation and compelling news reports. Passionate about technology and delivering impactful content. Collaborative team player dedicated to accuracy and clarity. When not writing, you'll find me hunkering down with a good book.

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