Kamala Harris Breaks Silence On Crypto

Kamala Harris has publicly addressed crypto for the first time, expressing her support for the industry while emphasizing the importance of consumer protection.

Source: www.theinformation.com

Kamala Harris made her first public statement on cryptocurrency during her presidential campaign, pledging to promote investment in artificial intelligence and digital assets at a Wall Street fundraiser.

“We will collaborate to enhance America’s competitiveness and future. We’ll support innovative technologies like AI and digital assets while ensuring consumer and investor protection”, Harris stated at the Manhattan event, as reported by Bloomberg on September 22. “We aim to create a secure business environment with clear and consistent regulations”, she continued. “We will invest in semiconductors, clean energy, and other future industries while reducing unnecessary bureaucracy.”

This marks Harris's first comment on crypto since becoming the Democratic Party’s frontrunner. Her Republican opponent, Donald Trump, has also sought to engage with the crypto sector. The industry has been eager to see if Harris would diverge from President Joe Biden’s stance, which many perceive as unfriendly to crypto.

Last month, Brian Nelson, a senior adviser for Harris’s campaign, indicated she would back crypto policies if elected, emphasizing the need for rules of the road following the recent collapses of several companies. Faryar Shirzad described Harris's statement as important and constructive in a September 22 post on X. He noted that while it may not be as bold as Trump’s proposals, it is significant because she acknowledges the importance of digital asset innovation alongside AI.

Alexander Grieve, vice president of government affairs at venture firm Paradigm, described Harris's comments as encouraging on X, asserting that regardless of the election outcome, this should be the last anti-crypto administration. This is progress, and progress is good, stated Jake Chervinsky, legal chief at crypto venture firm Variant, on X. However, he cautioned that the phrase while protecting our consumers and investors could have multiple interpretations.

Chervinsky argued that the anti-crypto faction uses ‘consumer protection’ as a smokescreen to undermine our industry. He mentioned, “I want to see clear policy details.” Crypto has emerged as a significant campaign topic, with US companies like Coinbase, Ripple, and Gemini spending nearly $120 million to influence the November elections, according to the advocacy group Public Citizen.

Meanwhile, Trump has actively engaged with the crypto space, promoting non-fungible tokens (NFTs), supporting his family's crypto platform, and promising to be a crypto president. He has vowed to remove the leadership of the Securities and Exchange Commission, which has pursued enforcement actions against major players in the crypto market. As the campaign heats up, Harris and Trump are in a tight race, with Harris leading Trump by just 2.9 percentage points in national polls.

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