When it comes to the future regulatory framework for digital assets in the United States, the winner of the November presidential election is not that important, according to Kevin O’Leary.
“It’s becoming bipartisan,” O’Leary said. Decrypt lawmakers’ legislative efforts in a recent interview. “We will have a crypto policy no matter who gets into the White House.”
Former President Donald Trump billed himself as a “crypto president” during his election campaign, courting cryptocurrency owners through bold promises. On the other hand, Vice President Kamala Harris has yet to lay out her vision for the nascent industry as the presumptive Democratic nominee.
“I know Trump is pro-cryptocurrency,” O’Leary said. “I’ve had the opportunity to talk to him.”
While the Canadian investor and “Shark Tank” star is eager to know what crypto policies Harris might have in store, he believes the silence so far presents Harris with new opportunities. Although some crypto advocates aren’t pleased The current administration’s approach digital assets under President Joe Biden, he said Harris could set a new tone
“She has no record, which is probably an advantage for her in some ways,” O’Leary said. “She has carte blanche. She can start implementing whatever policy she wants.”
Earlier this week, Senate Majority Leader Chuck Schumer (D-NY) promised adopt cryptocurrency regulations by the end of the year. Speaking at a virtual town hall hosted by Crypto4Harris, a basic organizationHe said lawmakers cannot continue to “bury their heads in the sand.”
The Financial Innovation and Technology for the 21st Century Act, or FIT21, was pass In May, the House of Representatives passed a bill that would define a market structure for cryptocurrencies. The bill that would define a market structure for cryptocurrencies received the support of 71 Democrats, while all but three Republican members voted against the measure.
O’Leary, a former spokesman for bankrupt crypto exchange FTX, testified before Congress on crypto in 2022. He has been working “on the Hill for three years now” on several crypto bills, and the prospect of legislation seems increasingly inevitable, he said.
Among the attendees at the Crypto4Harris event was billionaire Mark Cuban, a longtime associate of O’Leary through the aforementioned reality TV show. Previously, Cuban had stated Decrypt that Harris’ campaign had extended a hand with several cryptography related questions.
O’Leary said this was a welcome sign, hoping it would lead to a concrete crypto platform.
“I think the more they use the resources that are available to them to develop policy, the more positive it is,” O’Leary said of Cuban’s interactions with the Harris team. “But there’s already a lot of policy under consideration in Congress.”
Edited by Ryan Ozawa.
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