Cryptocurrency Industry Awaits Kamala Harris’ Stance as Election Season Gets Into Full Swing

As the 2024 US presidential race heats up, the cryptocurrency industry is keeping a close eye on the vice president Kamala Harris to get signals on its position on digital asset policy.

What happened:The Democratic candidate’s position on cryptocurrency regulation remains unclear, leaving industry executives and advocates hungry for guidance.

Veronique McGregorLegal Director at Exoduswarned against hasty judgments.

“While people want to attribute ownership to him for everything the Biden administration did or didn’t do with crypto, I don’t think that’s fair,” McGregor told Blockworks.

She stressed the need for patience, given Harris’ nascent presidential campaign.

The attention of the crypto community was recently caught by a virtual event hosted by Crypto4Harris, featuring prominent politicians and industry figures.

However, the absence of Harris or his representatives left some attendees disappointed.

McGregor defended that position, saying: “To expect to be able to get the vice president or her staff together on such a call in the short term, I think that would be a pretty tall order.”

Despite growing support for cryptocurrency among Democrats, the president Joe BidenThe SEC’s recent veto of a resolution challenging SEC accounting guidelines has raised concerns.

Also read: Solana ETF Approval in 2024 Has Only a 6% Chance: ‘A Chance Like a Snowball in Hell,’ Says ETF Analyst

Nic Carter Castle Island Ventures’ CEO expressed skepticism, suggesting Harris might fall back on Biden’s “hostile” crypto agenda without clear policy statements.

On the other hand, the former president Donald Trump has made explicit promises in support of cryptography, including supporting Bitcoin Bitcoin/USD mining.

McGregor highlighted the political constraints on Harris as a sitting vice president, saying: “It’s going to be difficult for a sitting vice president to throw grenades in the same way that her opposition does.”

The Democratic National Convention, which began Monday in Chicago, did not include digital assets in its platform.

Some interpret this omission as a potential shift toward a more favorable view of the industry.

McGregor hopes Harris’ campaign will provide guidance on how to “foster innovation and technology in a responsible and appropriate way.”

Industry leaders are particularly keen to see “regulation by enforcement” disappear. McGregor stressed: “What would be helpful is for his campaign to tell us … that we’re going to recalibrate and not resort to regulation by enforcement, because it’s a very destructive practice.”

And then?:As the crypto community seeks clarity on future regulations, events like Benzinga’s Future of Digital Assets on November 19 take on added importance.

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