While cryptocurrencies have played a major role in the race for the White House, their absence from the recent unveiling of the Democratic Party’s latest platform ahead of the Democratic National Convention has left the sector feeling discouraged.

The document, which was presented with great excitement, conspicuously ignores any mention of Bitcoin or digital assets. This is a gap in the official discourse that many had hoped would be filled.

VP Kamala Harris’ ‘Crypto Reset’ Explodes

If reported According to Bitcoinist, there has been much speculation about a possible shift in the Democratic Party’s stance towards the crypto industry, particularly under the influence of presidential candidate Kamala Harris.

There was a collective expectationeven among Democratic senators, calling for a “crypto reset,” a move that could potentially change the regulatory landscape, especially in light of the industry’s crackdown under the current Biden administration.

Under the leadership of Gary Gensler The industry has weathered a storm of lawsuits and regulatory challenges at the Securities and Exchange Commission (SEC), including the controversial “Operation Choke Point 2.0,” an alleged initiative to sever the industry’s ties to the U.S. banking system.

In these troubling circumstances, there is hope that Harris could usher in a more positive approach. However, the silence in the party platform seems to contradict this optimistic outlook.

Harris leans on anti-Bitcoin advisors

Democratic Rep. Ro Khanna of California had expressed optimism about the party’s potential turn in crypto matters. In an episode of the Unchained podcast, he said sketched five crucial points he wanted to include in the Democratic Party platform.

These include maintaining the US as a crypto industry hub, ensuring fair banking practices for crypto companies, allowing banks to hold digital assets, establishing clear regulatory boundaries between the SEC and the Commodities Futures Trading Commission (CFTC), and even considering Bitcoin as a reserve asset. Unfortunately, none of these proposals have made their way onto the official platform.

Adding to the unrest within the crypto community, recent revelations indicated that Vice President Harris is consulting advisers seen as anti-crypto to shape her economic strategy.

People like Brian Deese and Bharat Ramamurti, who played a key role in formulating the Biden administration’s strict crypto regulations, are seen as key influencers.

Crypto gap widens

In an effort to engage with the community, Democrats organized the “Crypto4Harris” town hall meeting, where they advocated for what they called “sensible” crypto regulation. Despite this,Key issues such as Operation Choke Point 2.0 and the right to self-determination were missing from the dialogue, leaving attendees wondering disillusioned about the party’s true agenda.

Meanwhile, the Republican Party, led by former President Donald Trump, has taken a strikingly different approach by openly supporting Bitcoin and digital asset innovation and opposing the development of a Central Bank Digital Currency (CBDC certificate).

However, The odds on a prediction market Polymarket regarding a possible Harris vs. Trump victory remained unchanged after the Democratic platform was revealedwith Harris retaining a 51% chance to Trump’s 47%.

At the time of writing, Bitcoin briefly recovered from the $59,000 mark as the token failed to break above the $60,000 milestone over the past week.

Main image of DALL-E, chart from TradingView.com