Democratic politicians in the US want to «kill» bitcoin and other cryptocurrencies

The head of cryptocurrency startup Tierion, Wayne Vaughan, said that representatives of the US Democratic Party are trying to «kill» bitcoin and other digital assets. Vaughan referred to an article by journalist Eleanor Terrett. According to the journalist, before the meeting of the House of Representatives' committees on May 10, the Democrats received a memorandum on cryptocurrency regulation. This document instructs officials to:

• Support the activities of the U.S. Securities and Exchange Commission (SEC) in regulating cryptocurrency;
• Support the inclusion of most digital coins in the list of securities;
• Recognize that the crypto industry has become a victim of widespread non-compliance with legislative measures.

The memorandum also states that the Democrats' opponents, the Republicans, on the contrary, are in favor of liberalizing cryptocurrency legislation. They allegedly seek to «tie the hands» of SEC employees in order to resist tighter control over the crypto industry.

If the document turns out to be genuine and the Democrats succeed in achieving their goals, cryptocurrency companies will start leaving the US market. Former Goldman Sachs CEO Raul Pal warned about the possible outflow of crypto firms. In his opinion, companies dealing with digital assets will move their headquarters to the UK and EU countries.

Last week, US presidential candidate Robert Francis Kennedy Jr, the nephew of President John F. Kennedy, accused the US government of trying to destroy bitcoin. The politician believes that the US authorities should stop putting pressure on the crypto industry and refuse to introduce a 30% mining tax.