Libertarian VP Nominee: Crypto Needs No New Regulations
The Libertarian Party’s vice presidential candidate, Mike ter Maat, has suggested that digital asset policies might play a relatively minor role in the 2024 United States elections. On May 26, the Libertarian Party selected Chase Oliver and Mike ter Maat as their presidential and vice-presidential candidates, positioning them as the representatives of the third-largest political party in the country, following the Democrats and Republicans.
Many of the Libertarian Party’s principles align closely with those of cryptocurrency enthusiasts. They commonly advocate for minimal regulations, except where essential freedoms need protection, and support free-market approaches to the economy. Speaking with following his nomination, ter Maat indicated that inflation and foreign policy were likely to be more pressing issues for voters in the upcoming November election. The subject of cryptocurrency could still emerge as a topic of discussion during the presidential race.
In recent months, there has been an uptick in discussions about digital assets among Democratic and Republican candidates. This increase in focus coincides with Congress considering various cryptocurrency bills, regulatory crackdowns on companies, and ongoing criminal cases by the U.S. Justice Department against high-profile industry figures. “I believe that technology, in a broad sense, and finance, beyond just cryptocurrency, could potentially play a more significant role,” ter Maat commented. He expressed a desire for cryptocurrencies to become a major topic of national discourse but was uncertain if this would actually happen.
The Democratic Party is expected to officially nominate President Joe Biden and Vice President Kamala Harris at their national convention in August. On the Republican side, former President Donald Trump is anticipated to accept his party’s nomination at their convention in July. Trump’s schedule is complicated by his impending sentencing, set to occur just days before the event, following his conviction on 34 felony counts.
Ter Maat noted that he and Oliver found little common ground with the other party candidates when it came to digital asset policies. He mentioned that Robert F. Kennedy Jr., who is running as an Independent, operates with a different set of principles on technology compared to Libertarians. He commented on Trump’s lack of detailed and nuanced statements on these issues. “I don’t see one party or another gaining a significant edge on these issues to the extent that it would sway the election,” ter Maat observed. He pointed out that both he and Oliver agree on their approach to digital assets, emphasizing that no new federal regulatory framework is required for this asset class. The problems arise because of bad actors attempting to steal others’ resources.
In May, the U.S. House of Representatives passed a bill barring the Federal Reserve from introducing a central bank digital currency (CBDC). Ter Maat has been vocal about his intention to veto any legislation enabling the Fed to issue a digital dollar, should he be elected. He articulated concerns that if the Fed or another central bank ventured into digital assets, it could create incentives for these institutions to develop a regulatory framework that favors their own currency, potentially stifacing the growth of other cryptocurrencies. This issue, he said, is troubling.
The Libertarian Party garnered around 3% of the popular vote in the 2016 presidential election, lagging behind Democrat Hillary Clinton and Republican Donald Trump. While it appears unlikely that the Oliver/ter Maat ticket will clinch victory in any state, they could potentially attract enough votes to impact the overall results, either swaying them away from President Biden or Trump.
Trump’s potential prison sentence poses an unusual situation, though it does not necessarily disqualify him from running for president again. Recent polls show that some U.S. voters are reconsidering their support for President Biden, particularly due to his stance on Israel amid the ongoing conflict in Gaza.
While issues of inflation and foreign policy may dominate voters’ concerns in the forthcoming elections, the topic of cryptocurrencies could still find its way into the political discourse. The Libertarian Party’s stance on limited regulation and free-market principles resonates with many in the crypto community, potentially offering an alternative perspective in the 2024 race. Significant hurdles and differing opinions among the major political figures suggest that digital assets might not take center stage.
30 thoughts on “Libertarian VP Nominee: Crypto Needs No New Regulations”
Leave a Reply
You must be logged in to post a comment.
Ter Maat’s comments show a fundamental misunderstanding of the current financial climate. Very disappointing stance on digital assets. 👎💸
Feeling optimistic about the Libertarian Party’s stance on free-market principles and minimal regulation! This could be a game changer.
Ter Maat’s focus on more pressing issues like inflation and foreign policy is refreshing. Let’s prioritize what’s important!
Great to see ter Maat highlight the real issues. Crypto is important, but let’s not forget inflation and foreign policy!
Disappointing to see ter Maat downplay digital assets. Seems like another politician not in sync with modern financial trends.
This overview from ter Maat is exactly why the Libertarian Party resonates with me. Real solutions, minimal regulations.
These views are consistent with what many of us in the crypto community have been advocating for. Thanks, Mike ter Maat!
Downplaying digital assets is such an outdated view. Libertarians just lost some credibility with these comments.
Come on, Mike ter Maat! Crypto is a massive issue for us. Treating it as minor is a huge misstep. 😡💔
Mike ter Maats stance on digital assets is quite a letdown. How can you not see the growing importance of cryptocurrency in today’s economy?
It’s encouraging to see the Libertarian Party focus on key economic issues. Kudos to Chase Oliver and Mike ter Maat! 💼🌟
Mike ter Maat is making sense! Emphasizing current pressing issues while keeping an eye on the future of digital assets. 👏💡
It’s disheartening to see such a dismissive attitude towards an issue that’s so important to many people. Major letdown, ter Maat. 💔
It’s time for fresh voices like Oliver and ter Maat who aren’t afraid to challenge the status quo. Minimal regulations for the win!
Digital assets not playing a significant role? Seriously? I expected better insights from the Libertarian vice-presidential candidate. 🤯
Excited to see Chase Oliver and Mike ter Maat bringing practical solutions to the table. Let’s make 2024 count!
I expected more from the Libertarian Party’s VP candidate. Ignoring crypto’s potential in the upcoming election is naive. 😩
Chase Oliver and Mike ter Maat are exactly what we need to shake things up! Their take on digital asset policies is spot-on. 🚀👍
The fact that ter Maat thinks crypto won’t be a major topic is honestly absurd. Voters are more informed than that. 🤦♂️
If the Libertarians don’t prioritize crypto, they’re definitely going to lose out on a significant chunk of voter support. Poor move! 😠
Finally, someone talking sense about the role of crypto in elections! Kudos to ter Maat and the Libertarians. 🤝🗳️
Mike ter Maat and Chase Oliver are bringing fresh perspectives to the political landscape! 🇺🇸🙌 Excited to see how their approach to digital assets and minimal regulation plays out.
Entirely wrong take from ter Maat. Crytpo is getting bigger every day – can’t afford to ignore it! 😠
Honestly, it’s disappointing that Mike ter Maat is downplaying the importance of digital assets in the 2024 elections. With so many developments in the crypto space, this feels out of touch.
Who else is excited about the Libertarian visa-presidential candidate Mike ter Maat? His understanding of the digital asset space is promising.
Refreshing to hear a candidate who understands the importance of minimal regulations. Go, ter Maat!
If Mike ter Maat wants to stay relevant, he needs to get a better grasp on the importance of digital assets. Major missed opportunity.
Cheers to Mike ter Maat for his thoughtful approach! Balancing digital assets and current economic issues is key. 🍻💸
Why would anyone think digital asset policies are minor? They’re a big deal for many voters! 🙄 Guess the Libertarians are missing the mark here. ❌
This stance on digital assets is going to alienate a lot of potential voters. Very shortsighted by the Libertarian Party. 😑