Vice President Kamala Harris, who is also a Democratic presidential nominee, has publicly expressed her support for cryptocurrency for the first time. Harris recently endorsed digital assets during a fundraiser in Wall Street, New York, making it her first public acknowledgment of the industry since the beginning of her presidential campaign. In her speech, she emphasized that if elected in November, she would back the growth of digital assets and artificial intelligence (AI).
During the fundraiser, Harris discussed her economic agenda, which has faced criticism for lacking a clear strategy to boost the crypto sector and address the nation’s financial challenges. However, she reassured attendees that she would work on strengthening the economy by collaborating with key sectors, including innovators. She also categorized digital assets as part of the technological advancements she would support.
Anthony Scaramucci, the managing partner of SkyBridge, shed further light on Harris’s comments regarding digital assets, suggesting that she was referring to Bitcoin. Scaramucci stated that Harris’s mention of digital innovations indicated her endorsement of Bitcoin if she becomes president. This statement followed Scaramucci’s announcement that he was working with the Harris campaign to develop policies that would promote the growth of cryptocurrencies under her administration. He mentioned that Harris would provide more details about her plans for the digital asset sector later in the week.
It is worth noting that Scaramucci is one of the few prominent figures in the crypto industry who have publicly endorsed Harris. Chris Larsen, the Chairman of Ripple, also expressed his support for Harris earlier this month, which received mixed reactions from the XRP community.
Some experts argue that regardless of the election outcome, the crypto sector would benefit from better regulation. President Trump has shown a pro-Bitcoin stance since his early campaign days, evident from his recent acceptance of Bitcoin as a payment for a burger and his involvement in a family-related decentralized finance (DeFi) project. However, Harris seems to be warming up to the industry, as evidenced by comments from her campaign and her acceptance of crypto donations. Nevertheless, her recent speech has not fully dispelled concerns that the crypto industry may face setbacks if she wins the election.
Despite the skepticism surrounding Harris, several analysts believe that Bitcoin will thrive regardless of the election outcome. Ripple’s CEO, Brad Garlinghouse, even noted that Gary Gensler, the chairman of the Securities and Exchange Commission, will likely be replaced regardless of who becomes president.
These recent developments have solidified the crypto sector as a significant financial industry in the US and have cast doubt on the possibility of strict regulations being imposed on the industry after the November presidential elections. It is important to mention that according to Polymarket, Harris is currently leading the race with a 52% to 48% advantage over Trump.
Disclaimer: This article is for informational purposes only and should not be considered as financial advice. The opinions expressed in this article are solely those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic is not responsible for any financial losses incurred.
