Kamala Harris' First Public Statement on Digital Assets

<p><span style="font-weight: 400;">In a significant moment for the cryptocurrency sector, U.S. Vice President Kamala Harris has made her first public statement on digital assets during her 2024 presidential campaign. </span></p> <p> </p> <p><span style="font-weight: 400;">Speaking at a fundraiser in Manhattan on September 22, Harris expressed her intent to encourage investment in innovative technologies, including artificial intelligence (AI) and digital assets. Her comments signal a growing recognition of crypto's role in the U.S. economy.</span></p> <p> </p> <p><span style="font-weight: 400;">“We will partner together to invest in America's competitiveness, to invest in America's future. We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors”.</span></p> <p><span style="font-weight: 400;">-Kamala Harris,</span></p> <p> </p> <p><span style="font-weight: 400;">She emphasized the importance of a safe and consistent business environment, adding that her administration would focus on sectors such as semiconductors, clean energy, and emerging industries.</span></p> <p> </p> <p><span style="font-weight: 400;">This marks the first time Harris has spoken publicly about cryptocurrency since becoming the Democratic Party's frontrunner in the 2024 presidential race. While her Republican opponent, Donald Trump, has already garnered significant support from the crypto community, Harris' position is being closely watched by the industry.</span></p> <p> </p> <p><a href="https://wizardia.io/blog/trends_shaping_crypto"><span style="font-weight: 400;">Curious about which trends shaping crypto?</span></a></p> <p> </p> <h1><span style="font-size: 36pt;"><strong>Harris' Stance and Industry Reactions</strong></span></h1> <p> </p> <p><span style="font-weight: 400;">Harris' position on crypto has drawn mixed reactions. Some view it as a potential shift from President Biden's administration, which has been perceived by some as less friendly to the industry. In August, Brian Nelson, one of Harris' senior campaign advisors, suggested she might support more favorable crypto policies if elected, but cautioned that the sector would still need clear regulatory guidelines.</span></p> <p> </p> <p><span style="font-weight: 400;">“This is an important and constructive statement from Kamala Harris,” said Faryar Shirzad, Coinbase's Chief Policy Officer, in a </span><a href="https://x.com/faryarshirzad/status/1837967033612546429"><span style="font-weight: 400;">post on X</span></a><span style="font-weight: 400;">. He acknowledged that while her remarks weren't as "forward-leaning" as those made by Donald Trump, Harris recognizes the importance of digital assets alongside AI.</span></p> <p> </p> <p><span style="font-weight: 400;">Others in the crypto space, like Alexander Grieve from </span><a href="https://www.paradigm.xyz/"><span style="font-weight: 400;">Paradigm</span></a><span style="font-weight: 400;"> and Jake Chervinsky of </span><a href="https://variant.fund/"><span style="font-weight: 400;">Variant</span></a><span style="font-weight: 400;">, expressed cautious optimism. Chervinsky warned that the phrase “protecting consumers and investors” has often been used as a guise for stricter regulations aimed at stifling the industry.</span></p> <p> </p> <p><span style="font-weight: 400;"> Many are still waiting to see if Harris will provide more detailed policy proposals in the coming months.</span></p> <p> </p> <h1><span style="font-size: 36pt;"><strong>Trump's Pro-Crypto Platform</strong></span></h1> <p> </p> <p><span style="font-weight: 400;">In contrast to Harris, Donald Trump has fully embraced cryptocurrency as part of his campaign. Once skeptical of Bitcoin and calling it a "scam," Trump has since taken a pro-crypto stance. He and his family are involved in developing a decentralized finance (</span><a href="https://coinbase.com/en-gb/learn/crypto-basics/what-is-defi"><span style="font-weight: 400;">DeFi</span></a><span style="font-weight: 400;">) platform, </span><a href="https://coinmarketcap.com/currencies/world-liberty-financial/"><span style="font-weight: 400;">World Liberty Financial</span></a><span style="font-weight: 400;">, which was announced just days before Trump made headlines for using Bitcoin to purchase burgers at a New York City bar.</span></p> <p> </p> <p><span style="font-weight: 400;">On September 18, Trump visited Pubkey, a bar known for accepting Bitcoin, where he used the cryptocurrency to make a transaction-becoming the first former U.S. president to do so. The event was covered by multiple sources, including </span><a href="https://truthsocial.com/@realDonaldTrump"><span style="font-weight: 400;">Trump's Truth Social account,</span></a><span style="font-weight: 400;"> and further solidified his support within the crypto community.</span></p> <p> </p> <p><span style="font-weight: 400;">Trump has been positioning himself as the "crypto president" in stark contrast to his Democratic rivals. At the Bitcoin </span><a href="https://wizardia.io/blog/never_sell_your_bitcoin"><span style="font-weight: 400;">2024 conference in Nashville</span></a><span style="font-weight: 400;">, he promised to support Bitcoin miners and vowed to remove U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, who has been behind several enforcement actions against crypto companies.</span></p> <p> </p> <p><span style="font-weight: 400;">See more </span><a href="https://wizardia.io/blog/never_sell_your_bitcoin"><span style="font-weight: 400;">here</span></a><span style="font-weight: 400;">.</span></p> <p> </p> <h1><span style="font-size: 36pt;"><strong>Crypto: A Key Campaign Issue</strong></span></h1> <p> </p> <p><span style="font-weight: 400;">As the 2024 election draws near, cryptocurrency is emerging as a central issue. U.S. crypto companies, including </span><a href="https://www.coinbase.com/en-gb/"><span style="font-weight: 400;">Coinbase</span></a><span style="font-weight: 400;">, </span><a href="https://ripple.com/"><span style="font-weight: 400;">Ripple</span></a><span style="font-weight: 400;">, and </span><a href="https://www.gemini.com/eu"><span style="font-weight: 400;">Gemini</span></a><span style="font-weight: 400;">, have already spent nearly $120 million on lobbying efforts to influence the outcome of the election. Harris' cautious approach, paired with Trump's outspoken pro-crypto stance, offers voters two starkly different visions for the future of digital assets in the U.S.</span></p> <p> </p> <p><span style="font-weight: 400;">With the two candidates neck-and-neck in the polls, according to FiveThirtyEight, the battle for the White House could have major implications for the future of cryptocurrency regulation. While Harris advocates for a balanced approach that promotes innovation while ensuring consumer protection, Trump has made bold promises to reshape the industry in favor of decentralization and deregulation.</span></p> <p> </p> <p><span style="font-weight: 400;">Both candidates recognize the importance of blockchain and digital assets, but their strategies could lead to vastly different regulatory environments for crypto investors, developers, and companies. As the race heats up, the future of crypto in the U.S. may hinge on who occupies the Oval Office come January 2025.</span></p> <p> </p> <p><a href="https://wizardia.io/blog/presidential_bullrun_catalyst"><span style="font-weight: 400;">The Presidential Election</span></a></p>