Crypto Lobby Group Revises Kamala Harris’ Digital Asset Support Rating After Backlash

A digital asset lobby group backed by Coinbase, Stand With Crypto, has been forced to change the ranking of Democratic presidential candidate Kamala Harris.

The group, which runs a website that ranks the level of support US politicians have shown for crypto, had characterized Harris as “Supports Crypto,” giving him a “B” grade.

The group sees Harris’ New York statements as favorable to Crypto

The ranking followed comments the vice president made on Sept. 22 at a fundraiser in New York. He said he would encourage innovative technologies such as artificial intelligence and digital assets. He also promised to reduce unnecessary red tape, which many feel has been a hallmark of crypto regulation in the United States.

Stand With Crypto determined that the statement was “somewhat supportive” of the industry and upgraded Harris’ card on its website, giving it the second highest possible grade.

For context, the same website has given Donald Trump an “A” grade, meaning he is “strongly supportive” of digital assets. The Republican standard-bearer has reportedly made at least 21 statements about crypto, compared to just one made by his opponent in the US presidential race.

While Stand With Crypto praised the fact that the candidates were thinking about crypto as a win, many in the community felt that Harris did not deserve such a high mark.

Bitcoin enthusiast Wayne Vaughan referred to the Democratic nominee’s only presentation on crypto as “neutral.” He also decried what he called the Biden-Harris administration’s history of open hostility to crypto, suggesting it should have earned the vice president an “F” at best.

Michael Cairo, an attorney at boutique crypto firm Horizons Law and Consulting, accused Stand With Crypto of “taking advantage” of his influence and acting as if the 59-year-old California native was supporting the industry when all that had on his CV was “a vague statement about technological innovations”.

The criticism did not stop there. Venture capitalist @HelpedHope accused the pro-crypto lobby group of pandering to both political parties in order to have some “bargaining power” should Harris win the November election. He claimed the vice president’s vague reference to “digital assets” could mean anything from off-chain airline points to central bank digital currencies (CBDCs).

The VP’s crypto rating has been removed

After the debate, Stand With Crypto posted an update, dropping its characterization of Harris as a supporter of absolute crypto and changing its scoring system for politicians.

The group’s chief executive, Logan Dobson, spoke to X on September 25, saying they had received a lot of feedback about their dashboard and had made changes to it. He noted that in the future, giving politicians full marks on their crypto position will require much more information.

“If a candidate has made some statements but not enough to warrant a scorecard rating, you’ll see those statements reflected on the page for everyone to see, but we’ll mark the candidate as ‘Needs More Information.’

This new direction can be seen on Harris’ profile on the website, which has been changed to state that there is “not enough information” about his stance on crypto.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!