During Bitcoin 2024, Representative Wiley Nickel (D-NC) took the main stage to discuss his efforts in pushing the Democratic Party towards a more pro-Bitcoin and pro-crypto stance.
He revealed that he had written a letter to the DNC, signed by 28 Democrats (including 14 in Congress), urging for a new approach to digital asset policy within the party and its presidential nominee.
Rep. Nickel outlined key components of this new approach, such as including pro-digital asset language in the party’s platform, selecting a vice presidential candidate knowledgeable in digital asset policy, choosing a pro-innovation SEC chair, and engaging with the industry in a substantive manner.
We caught up with Rep. Nickel to delve deeper into his plans to align the Democrats with Bitcoin.
A shortened and clarified transcript of our conversation is provided below:
Frank Corva: What were your key takeaways from the Bitcoin conference?
Rep. Wiley Nickel: I had a fantastic time at the conference, engaging with individuals at all levels on the significance of crypto and advocating for progressive crypto policies within the Democratic Party.
My primary focus in Nashville was to maintain a bipartisan approach, ensuring that this issue does not become politically divisive. Regulation is crucial for consumer protection, job retention, and innovation sustainability in the crypto industry.
Corva: Do you see more Democrats like yourself emerging, who support Bitcoin and crypto innovation while prioritizing U.S. job retention and global financial competitiveness?
Rep. Nickel: Absolutely. The need for inclusive financial solutions is paramount, and the existing financial system falls short in serving everyone. Crypto and Bitcoin offer promising solutions to address these shortcomings, and we are witnessing a shift in the Democratic Party towards favorable digital asset regulation.
We are actively building a coalition of like-minded Democrats to advocate for progressive crypto policies, as evidenced by the bipartisan support for initiatives like FIT21 in the House of Representatives.
Corva: How do you plan to assure pro-Bitcoin and pro-cryptocurrency voters that the Democratic Party is committed to fostering innovation and not stifling it?
Rep. Nickel: I recently authored a letter urging the DNC and the Harris campaign to prioritize pro-digital asset policies, appoint an innovation-focused SEC chair, and engage with industry experts. It is essential for voters to recognize the party’s dedication to advancing crypto-friendly policies that benefit consumers and stimulate innovation.
Our House Democrats are aligned on these crucial issues, exemplified by their support for crypto-related legislation. We aim to maintain a bipartisan stance to secure the future of Bitcoin in U.S. policy.
Corva: Have Democrats been receptive to the transformative benefits of Bitcoin, such as financial inclusion and property rights, particularly on a global scale?
Rep. Nickel: Education is key to advancing crypto-friendly policies. Progressives are gradually recognizing the potential of Bitcoin in promoting financial inclusion worldwide and empowering marginalized communities economically. Embracing new technologies like crypto is imperative for economic empowerment and wealth creation outside traditional financial systems.
Corva: In light of concerns about individual control over private keys, do Democrats support non-custodial ownership of crypto assets?
Rep. Nickel: Our immediate focus in Congress is on regulating the industry through initiatives like FIT21 and addressing stablecoins and custodial banking. By prioritizing these foundational steps, we pave the way for more advanced discussions on non-custodial ownership of crypto assets.
Corva: Do you have any insights on recent movements of government-held Bitcoin and potential sales by the U.S. government?
Rep. Nickel: I’m not aware of any specifics regarding the recent movements of government-held Bitcoin.
Rep. Nickel: In conclusion, we are committed to reshaping the Democratic Party’s approach to crypto issues and ensuring that voters understand our dedication to fostering innovation and competitiveness in the crypto space.
