Mike ter Maat, the Libertarian Party’s vice presidential nominee, suggested that digital asset policy might have a limited impact on the political landscape during the 2024 United States elections.
In a surprising move on May 26, Libertarian delegates selected Chase Oliver and ter Maat as their presidential and vice presidential candidates, positioning them as the representatives of the country’s third-largest political party, following closely behind the Democrats and Republicans. The party’s principles often resonate with those who hold cryptocurrency, advocating for minimal regulations that protect individual freedoms and promoting free-market economic strategies.
In an interview with Cointelegraph after his nomination, ter Maat expressed his belief that issues like inflation and foreign policy would take precedence in the minds of voters come November. Nevertheless, he acknowledged that cryptocurrency could still have a role to play in the presidential race. Candidates from the major parties have recently intensified their discussions on digital assets as Congress deliberates on crypto-related legislation, regulators tighten their grip on companies, and the U.S. Justice Department pursues legal action against prominent figures in the industry.
“I think that technology, as a whole, and finance beyond just cryptocurrency, could have a significant influence,” stated ter Maat. “While I would be thrilled to see cryptocurrencies become a focal point of national conversation, I’m not certain if that will necessarily happen.”
President Joe Biden and Vice President Kamala Harris are anticipated to be nominated by the Democrats at their national convention in August, while former president Donald Trump is expected to accept the Republican Party’s nomination in July and announce his choice for vice president. However, Trump’s sentencing on 34 felony charges, just days before the event, could complicate matters.
According to ter Maat, he and Oliver have not identified much common ground on digital asset policy with candidates from other parties. He noted that Independent candidate Robert F. Kennedy Jr. holds different technological principles compared to Libertarians, and criticized Trump for lacking clear, nuanced statements on complex issues.
The Libertarian VP nominee emphasized that he and Oliver share a harmonious approach to digital assets. In May, the U.S. House of Representatives passed a bill prohibiting the Federal Reserve from introducing a central bank digital currency in the country. Ter Maat has been vocal about vetoing any legislation that grants the Fed the authority to launch a digital dollar if he is elected.
“If the Fed or any central bank were to enter the digital asset space, it could create incentives for them to establish regulations that favor their own currency, potentially hindering the growth of other cryptocurrencies,” expressed ter Maat. “This is a cause for concern.”
The Libertarian Party, which garnered approximately 3% of the popular vote in the 2016 presidential election, is not expected to win any states in the upcoming election. However, their ticket of Oliver and ter Maat could draw enough votes away from Biden or Trump to impact the election outcome. Despite facing potential legal consequences, Trump’s ability to run for president again remains unaffected. Recent polls have revealed voter hesitancy towards supporting Biden due to his stance on the conflict between Israel and Gaza.
In conclusion, cryptocurrency enthusiasts are already making their mark on the 2024 election, and their influence is expected to grow.