Kamala Harris, U.S. Vice President and presidential candidate, recently made her first public comments on cryptocurrency, signaling potential support for the industry. In a speech at a Wall Street fundraiser, Harris highlighted the importance of digital assets while emphasizing consumer protections.
Supporting Innovation in AI and Digital Assets
At the fundraiser, Harris discussed her plans for the U.S. economy, including supporting technologies like artificial intelligence (AI) and cryptocurrencies.
"We will partner to invest in America’s competitiveness and future," Harris said.
"We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors."
This marks her first public statement on the crypto industry.
A Shift from the Biden Administration?
The crypto industry has been waiting to hear if Harris would take a different stance from President Biden, who is seen by some as less favorable to the sector. Harris’ campaign adviser had hinted at support for crypto, provided there are proper rules in place.
Mixed Industry Response
Faryar Shirzad, Coinbase’s Chief Policy Officer, described Harris’ statement as "important" but noted it was not as aggressive as Donald Trump’s pro-crypto stance. Alexander Grieve from Paradigm called her remarks "encouraging."
Concerns Over Consumer Protection
Jake Chervinsky, legal chief of Variant, expressed concern that Harris focus on consumer protection could be used to limit the industry, a common tactic among crypto opponents.
Crypto as a Campaign Issue
Cryptocurrency has become a key issue in the upcoming election. U.S. crypto companies, including Coinbase and Ripple, have spent nearly $120 million lobbying to influence the outcome.
Harris’ comments suggest potential support for crypto, but policy details remain unclear. As the election nears, cryptocurrency will likely stay a key issue in the race.
Who Will Shape Crypto's Future?
With both Harris and Trump competing for the crypto vote, the future of the industry may depend on who wins the election. Whether Harris balanced approach or Trump’s stronger stance prevails, cryptocurrency will likely play a major role in shaping the next administration’s policies.
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