As a lifelong Democrat and former Governor of Virginia, I have always believed that our party should be on the side of growth, change, and economic opportunities. That’s why I’m concerned that so many Democrats stand on the sides or standing in the way of one of the most transformations of financial innovation of our time: blockchain and cryptocurrency.
Blockchain and Crypto are already driving job creation nationwide, from data centers and fintech startups to cybersecurity companies and developers working on decentralized infrastructure. This technology means many jobs, higher wages, and more money in people’s pockets, especially in communities left by the traditional financial system.
The numbers don’t lie. Voters greatly support the integration of crypto into the American financial system. More than Two-thirds of Americans believe There should be clearer rules and regulations for the crypto industry, rather than leaving it more irregularly, according to many leading public opinion polls.
And Believe two-thirds The current global financial system favors powerful interests and not them. Democrats need to understand that voters want an alternative to the current financial system that gives them the economic independence that is extremely necessary. That is a winning message of the middle class.
These numbers reflect a clear mandate for action. But the leadership of our party often approaches the crypto with doubt or direct hostility, creating a partisan dividing a change that must exceed political boundaries.
This misalignment became painful in the past elections, along with the Republicans, including Donald Trump, who embraced the crypto, while the Democrats appeared in contact with the technological revolution that redefined our economy. We cannot afford this land, especially when crypto and blockchains offer solutions to many of the economic challenges we have long sought to meet.
The democratic party always stands for the expansion of economic opportunity and ensures that working people are not exploited by powerful financial institutions. As a lifelong businessman and former Governor of Virginia, I have seen how to open doors for workers, businesses, and families in every corner of our economy. Cryptocurrency and blockchain technology is no exception-they offer real tools to increase financial integration, expand access, and create great paid jobs.
Not only this theory, this is what voters tell us. Color communities and younger Americans, especially young men, see the true promise in Crypto as a path to economic strengthening. These are the major democratic constituents, and they will be important to win the map in 2028 and beyond. If we want to remain a party of opportunities, we need to lead the way to the forward regulation-do not stand in the way of development.
Crypto innovation means financial services for communities that are traditionally ignored by conventional banking systems, which offers faster, cheaper transactions and broader access to capital. For minority communities, in particular, with history faced with traditional banking discrimination, crypto represents a path to financially strengthening by choosing a self-custody and consumer. Small businesses should not pay 3, 4 or 5% of their income to companies when transactions can be made at a part of the cost. Crypto will create a payment system that benefits consumers and small businesses everywhere.
Now, we have an important opportunity to correct our course. The Genius Act, which is now awaiting home action, presents a framework for wise, progressive regulations that position America as a global leader in Stablecoins.
Stablecoins are Crypto tokens supported by the US dollar held at a bank that provides a cheaper and faster way of moving dollars than the dated ACH system. This law offers a balanced approach that both the care of change, strengthens the US dollar and establishes the necessary guards.
The provisions of the Genius Act will streamline our financial system and eliminate expensive fees that do not affect small businesses and low-income Americans. This means that Americans can send money to family overseas in Millisecond, for the fractions of a cent, using dollars that have back stablecoins like the USDC in fast public blockchains like Solana. This is exactly the kind of forward thinking policy that Democrats should champion; It’s about creating a more accessible, efficient, and equal financial system for all Americans.
Our Party’s current stand is not just the step with the change – this is not a step along with the very voters we need to win. Nationwide, the growing number of Americans – especially younger voters and colors – see cryptocurrency as a path to financial opportunity and economic integration. It is the same voters that have long been formed the backbone of the democratic coalition. If we continue to treat this technology with suspicion rather than vision, it is our risk of pushing the very people we must fight for – not just in the next election, but in the coming years.
The path is clear. Democratic houses should embrace crypto regulation balancing a consumer protection change. The Genius Act provides this outline for Stablecoins, which offers an opportunity to show our commitment to fairness and financial integration.
It’s not just about winning the election – though it’s important – about ensuring America’s leading the next generation of change and creating a platform for Americans owned by their financial future. In the early days of the Internet period, the United States led the way with regulation of change and therefore we were home to almost every major player in the online industry. Today, other countries are moving fast to promote themselves as crypto hubs. We can help shape the future or let the next Silicon Valley be built abroad.
For Democrats, this is a moment of choice. We can continue our current path of skepticism and resistance, or we can embrace the change of cryptocurrency potential as it ensures that it develops in alignment with our values of fairness, integration, and change.
The time has come for Democrats to rule the crypto policy. The future of our party – and the competitive edge of America in the global financial system – may depend on it.
