Kamala Harris Shares Stance on Crypto
23 Sep, 2024 ● Crypto people
United States Vice President Kamala Harris made her first public comments about cryptocurrency during her presidential campaign.
Speaking at a Wall Street fundraiser, Harris promised to support investment in artificial intelligence and digital assets.
“We will partner together to invest in America’s competitiveness, to invest in America’s future. We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors,” Harris said at the Manhattan event, as reported by Bloomberg on Sept. 22.
She also emphasized the importance of creating a stable business environment, stating, “We will create a safe business environment with consistent and transparent rules of the road,” while outlining plans to invest in sectors such as semiconductors, clean energy, and other forward-looking industries, alongside reducing unnecessary bureaucracy.
This marked the first time Harris has spoken publicly about cryptocurrency since becoming the Democratic Party’s leading candidate for the presidency.
Her Republican opponent, Donald Trump, has also made efforts to attract support from the crypto industry.
There has been speculation regarding whether Harris would take a different stance on cryptocurrency compared to President Joe Biden, who some view as less favorable toward the sector.
In August, Brian Nelson, a senior adviser for Harris’ campaign, hinted that she would likely support crypto-friendly policies if she wins the presidential race in November.
However, Harris stressed the need for clear regulations, citing the collapse of certain companies as a concern.
“This is an important and constructive statement from Kamala Harris,” Coinbase policy chief Faryar Shirzad commented in a Sept. 22 post on X.
He added, “It’s not nearly as forward-leaning as the concrete and visionary positions taken by Donald Trump, but it’s still notable because she recognizes digital asset innovation as being important and on par with AI.”
Alexander Grieve, vice president of government affairs at venture firm Paradigm, also described Harris’ remarks as "encouraging" on X, noting that regardless of the election outcome, “this should be the last anti-crypto administration.”
Crypto venture firm Variant’s legal chief Jake Chervinsky also weighed in, stating, “This is progress and progress is good,” but expressing concern that phrases like “while protecting our consumers and investors” could be interpreted in various ways.
He cautioned, “The anti-crypto army uses ‘consumer protection’ as a smoke screen to conceal their attempts to destroy our industry. I, for one, want to see policy details.”
Cryptocurrency has emerged as a significant issue in the U.S. presidential campaign.
Major crypto companies, including Ripple and Gemini, have collectively spent nearly $120 million to influence the outcome of the November elections, according to a report by Public Citizen in August.
Trump, in particular, has embraced the crypto space, releasing four non-fungible token (NFT) collections, supporting his family’s crypto platform, and aligning himself closely with the industry.
Meanwhile, Gary Gensler, Chair of the Securities and Exchange Commission (SEC), has initiated several enforcement actions against prominent U.S. crypto companies.
As of Sept. 22, national polls from FiveThirtyEight show Harris and Trump in a close race, with Harris holding a slim 2.9-point lead over Trump.
Sources:
https://cointelegraph.com/news/kamala-harris-finally-breaks-silence-crypto-during-fundraiser
https://x.com/faryarshirzad/status/1837967033612546429
https://x.com/faryarshirzad/status/1837967033612546429
https://x.com/AlexanderGrieve/status/1837948931369808095
https://x.com/jchervinsky/status/1838000616829862216
https://projects.fivethirtyeight.com/polls/president-general/2024/national/
