As the 2020 U.S. presidential election approaches, the cryptocurrency industry is paying close attention to Vice President Kamala Harris and her stance on cryptocurrency regulation. A group of investors and cryptocurrency industry executives are planning to host a fundraising event for Vice President Harris on Friday, September 13 in Washington, D.C., to raise at least $100,000.
Scheduled to take place between the Congressional Black Caucus and Congressional Hispanic Caucus conferences, the grassroots event aims to bring together a diverse group of donors who support Harris. The hope is that by rallying behind the Democratic nominee, they can influence her stance on cryptocurrency regulation if she is elected vice president.
With tickets ranging from $500 to $5,000, organizers hope to send a message that they support Harris in the hopes that she will take a more lenient regulatory stance on cryptocurrencies if elected. This comes as the Securities and Exchange Commission under President Joe Biden has cracked down on the industry, leading many in the industry to call for more politician-friendly policies.
The group behind the fundraising includes prominent figures such as Tiffany Smith, co-chair of the Blockchain and Cryptocurrency Task Force at law firm WilmerHale. They hope that by supporting Harris’ campaign efforts early on, they can help her understand the importance of the industry to innovation and access to capital among people of diverse backgrounds.
While some figures in the crypto community have already shown their support for Harris through various fundraisers and public events, there remains some uncertainty about her stance on cryptocurrency. However, her campaign team has met with major companies in the industry, including Coinbase and Ripple.
Both sides see potential benefits in aligning themselves with political candidates who support their interests. With super PACs from major crypto companies donating funds to pro-crypto candidates in congressional races — rather than just focusing on presidential candidates — it’s clear that there’s a growing desire for influence in the halls of power in Washington.
As we head into an election year where pressing issues of technology regulation and innovation take center stage, it will be interesting to see how leaders like Kamala Harris navigate these evolving environments while balancing the needs of diverse industries. For now, all eyes remain on how she might approach these topics if she takes office — which could be crucial given her potential influence over voters in a booming industry like cryptocurrency.
