Cryptocurrency markets have witnessed multiple criticisms since their inception. However, scrutiny from those not aligned with the world of digital assets has increased in the past few years. In an interview with BloombergRipple's CEO addressed the same issue adding that most politicians do not have proper knowledge about cryptocurrencies and how they work.
Ripple CEO calls for better political awareness around cryptocurrencies
Political figures often lack a basic understanding of cryptocurrencies, according to Brad Garlinghouse, CEO of Ripple. In an interview with Bloomberg, Garlinghouse said that politicians often make statements about cryptocurrencies that are not supported by facts or evidence. He also added that for the upcoming 2024 US elections, Ripple has put together a super package to support pro-crypto candidates.
These statements come at a time when the US elections depend heavily on cryptocurrency policies. Voters place their bets on candidates based on how they present their stance on cryptocurrencies. These statements also come as pro-XRP lawyer John Deaton announced his run for the Senate, against Elizabeth Warren. Warren has not been on good terms with the cryptocurrency community lately due to an unfavorable stance on virtual assets and a bill that could result in many cryptocurrency holders being disinvested. Senator Elizabeth Warren's attack on cryptocurrencies has faced serious opposition in the Senate.
Read Also: XRP Community Endorses Crypto Lawyer John Deaton in US Senate
The cryptocurrency world is intensifying its criticism of Elizabeth Warren
According to another Bloomberg report, the cryptocurrency business is intensifying its criticism of anti-crime legislation issued by Senator Elizabeth Warren. Criticisms stem from the claim that if the bill passes, the industry in the United States will be destroyed. The bill would likely destroy the savings of many Americans who have legally invested in the cryptocurrency asset class.
Crypto voters will play a major role in the upcoming elections
With upcoming elections in more than a dozen countries around the world, topics related to cryptocurrency markets and regulations regarding the latter will be a key aspect for many to judge their next government. In the US alone, crypto voters will have a big role to play this time in the election. According to Forbes, one in five Americans today own digital assets. That's 52 million people. Perhaps most surprising is the political composition of this demographic. Forbes also reported that according to survey data from Coinbase and Morning Consult, 22% of responding cryptocurrency holders identified as Democrats, 18% as Republicans, and 22% as independents. The 2024 election will have up to 1.9 million votes decided by crypto supporters. This would be enough to tip the balance in the election, and perhaps even to tip the balance. In such a scenario, jumping on the cryptocurrency bandwagon seems obvious for election candidates.
