Kamala Harris pledges to promote crypto in surprising campaign switch

The presidential candidate presented her economic agenda to donors in New York City on September 22, saying she wants to support innovation in artificial intelligence and cryptography and focus regulations on protecting consumers and investors.

The Democrat said she would bring together small business founders, innovators and big companies to “invest in America’s competitiveness, to invest in America’s future.”

He then mentioned crypto assets for the first time publicly, according to Bloomberg:

“We will foster innovative technologies such as artificial intelligence and digital assets while protecting our consumers and investors.”

According to Reuters, Harris plans to roll out a new set of economic policies this week.

Are Democrats Good for Crypto?

The move marks a departure from the approach of President Biden, who has actively targeted the crypto industry with a slew of lawsuits and a quagmire of murky regulations. One of Harris’ campaign policy advisers told Bloomberg that she wants to help grow digital assets, but is interested in more regulations and safeguards for the industry.

However, researchers have suggested that the crypto crackdown and hostility towards the industry would continue if Democrats were elected. Uniswap founder Hayden Adams said “(Joe) Biden has been bad for crypto and actions will speak louder than words,” before adding:

“But progress is progress, it has to start somewhere and it has to be encouraged. A positive statement about technology is more than we got under the Biden and Trump presidencies.”

Not all were convinced that Democrats would be good for crypto, however.

delay

Uniswap is not to be trusted.

The only major crypto company actively working for Democrats and Kamala Harris in particular. It’s like they want us to lose. https://t.co/huw76HRyQq

— Ryan Selkis (d/acc) (@twobitidiot) September 22, 2024

In April, the Securities and Exchange Commission (SEC) issued an intent to take legal action, or Wells notice, against Uniswap.

ETF Shop President Nate Geraci also saw the irony of a crypto founder supporting Democrats.

Current state of crypto regulation in two tweets… pic.twitter.com/s4Owie9nzo

— Nate Geraci (@NateGeraci) September 23, 2024

Last week, CryptoPotato reported that the founder of investment firm SkyBridge Capital, Anthony Scaramucci, revealed that he was working with Kamala Harris to draft crypto policies for her campaign.

Trump All-In on Crypto

His Republican rival, Donald Trump, has openly courted the crypto industry, promising to fire SEC Chairman Gary Gensler and appoint pro-industry regulators.

Last week, he became the first former president to use Bitcoin as a payment method when he bought burgers for supporters at a bar in New York.

According to Polymarket’s election prediction, Harris has a 52% lead, while Trump is at 47%. According to the latest CBS News poll, the vice president has now “moved to the very edge of the battleground states,” with 4 points nationally over Donald Trump.

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