Here’s Why Kamala Harris Crypto Support Could Be Empty Promise

Coinspeaker
Here’s Why Kamala Harris Crypto Support Could Be Empty Promise

US Vice President Kamala Harris made a pro-crypto comment last Sunday stating that if elected to the White House, she would support innovation in this industry. However, crypto industry veterans state that with two months to the elections, there’s nothing concrete happening in terms of framing the crypto policies.

A source familiar with the campaign’s discussion with crypto insiders stated that Harris took a broad approach by mentioning that her presidency would “encourage innovative technologies like AI and digital assets while protecting consumers and investors”.

Moreover, conversations about digital asset policy remain at a high level and are unlikely to yield a detailed position before the election. Thus, the source added that crypto would be just one of the several innovations that Harris would highlight during her campaign.

Senior campaign officials of the Kamala Harris team have kept the dialogue running with some crypto industry insiders such as Ripple Labs and Coinbase. Paul Grewal, the chief legal officer at Coinbase, is also among those attending the meetings. “All we want are sensible rules, and we’ll follow them,” he said.

Furthermore, he also stated that he’s “encouraged” at the response coming from the Harris campaign. “Their understanding of what the industry and crypto investors alike need from a Harris administration, should one come to pass, is growing in sophistication and depth,” Grewal said. “Sometimes things just take a little bit longer than any of us might like,” he added.

Former Trump aide and founder of SkyBridge Capital, Anthony Scaramucci, also stated that he’s working along with the Harris campaign on its crypto policy stand.

Vice President Kamala Harris’s campaign signals to their supporters that they have acknowledged the concerns with the US crypto reset. However, there’s some uncertainty about who will control Congress if she wins. Harris may be leaving herself strategic flexibility on crypto legislation, offering little more than a rhetorical nod for now.

On the other hand, her Presidential opponent Donald Trump has fully embraced crypto after years of skepticism, with his family’s latest venture delving into decentralized finance (DeFi). Early details on Trump’s World Liberty Financial have faced criticism from some crypto advocates, but Trump is actively backing the crypto industry on the campaign trail.

He has also pledged that a second Trump administration would establish the U.S. as the “world capital for crypto” through pro-digital assets policies.

Here’s Why Kamala Harris Crypto Support Could Be Empty Promise