- Crypto executives are hosting a $100,000 fundraiser for Vice President Kamala Harris.
- The event is supported by the Blockchain Foundation and aims to open discussions on how a Harris administration could support the crypto industry.
On September 13, prominent figures from the U.S. cryptocurrency industry will hold a fundraiser in Washington, DC, for Democratic presidential candidate Vice President Kamala Harris. As Reuters reports, industry leaders organized the event with the goal of raising at least $100,000.It is being held concurrently with the Congressional Black Caucus and Congressional Hispanic Caucus conferences and is seen as an important event for the crypto community, which has long awaited regulation.
Cleve Mesidor, executive director of the Blockchain Foundation, and Tiffany Smith, co-chair of the Blockchain & Cryptocurrency Working Group at WilmerHale, are leading the fundraising. These industry leaders are confident that if Harris is elected, she will support a more flexible approach to cryptocurrency regulation.
Fundraising follows SEC crackdown on cryptocurrency industry
This follows the SEC under the Biden administration cracking down on the industry, with the agency insisting that many cryptocurrency businesses violate securities laws, a view the industry has pushed back against.
Mesidor and Smith explained that Harris needs to understand that the cryptocurrency industry helps people, including people of color, access capital. This fundraising could be a key moment for Harris to address those issues and potentially define her stance on cryptocurrency regulation.
Even as the industry continues to grow, current Vice President of the United States Kamala Harris has not made her stance on cryptocurrencies clear. While her team has held meetings with key market players, such as Coinbase and Ripple, her position remains unclear. This has left crypto executives and investors on the edge of their seats, waiting for the event where Harris might discuss his position on the issue.
Brian Nelson, a senior adviser to Harris’ campaign, has hinted at the promise of emerging technologies, suggesting Harris would support their growth. However, details on her approach to regulating cryptocurrencies remain scarce.
Potential impact of Harris’ position on voter support and campaign financing
If Harris decides to come out in favor of cryptocurrencies at the fundraiser, the party could be drawn to support the industry more than before. A clear, supportive stance could potentially attract a significant number of voters from the crypto community, which has seen more explicit support from Republican candidate Donald Trump.
A supportive position could also increase the financial support from industrybolstering Harris’ campaign and more closely aligning the crypto industry with her candidacy. However, if Harris remains vague on her position, she risks alienating a growing and vocal bloc of voters.
The cryptocurrency industry’s political influence has grown significantly in recent years. According to a recent report by the nonprofit watchdog Public Citizen, the industry has contributed approximately $119 million to various political campaigns in 2024, surpassing traditional industries like oil and banking.
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