Kamala Harris’s Campaign Signals Support for Cryptocurrency Industry

Democratic presidential candidate Kamala Harris intends to support the development of digital assets by crafting regulatory guidelines, according to her advisor Brian Nelson, reports Bloomberg.

A representative from Harris’s team noted that if elected, she would create conditions for the “further growth of new technologies and industries of this kind.”

Nelson emphasized that the administration would bring clarity to the regulatory landscape of the Web3 industry, moving away from the uncertainty and ambiguity associated with Gary Gensler’s tenure at the SEC.

“[In the crypto community] they stated that they need stable ‘rules of the road’,” Nelson added.

Harris’s absence from the specially organized Crypto for Harris event on August 15 heightened skepticism among some community members regarding her commitment to the declared “crypto reboot.”

The agency noted that during a campaign event, the Vice President did not specifically mention digital assets. 

She pledged that if elected as head of state, she would reduce “excessive regulatory red tape” and “create a stable business environment with consistent and transparent rules of the road.”

The Defiant highlighted that cryptocurrency policy is not explicitly included in the Democratic Party’s announced platform for 2024.

On August 8, party officials and Harris’s advisors met with representatives from Coinbase, Ripple, Stellar, and other industry companies. The publication noted that these representatives expressed their dissatisfaction with the hostile regulatory climate of the current administration.

In May, Nelson, who also serves as the U.S. Deputy Secretary of the Treasury for Terrorism and Financial Intelligence, called unregulated stablecoins a threat to national security. He also oversaw the department’s first report on risks associated with NFTs.  

Meanwhile, Harris has included former Binance Global Advisory Board member David Plouffe in her campaign team.

Investment Director of Bitwise Matt Hougan concluded that politicians’ attitudes do not matter for the crypto industry. A similar opinion was expressed by former BitMEX CEO Arthur Hayes.

Earlier, Bloomberg noted the hopes of Bitcoin companies for Donald Trump’s return to the White House.