Vice President Kamala Harris’ presidential campaign has reached out to her to ask questions about the cryptocurrency industry, according to a source who spoke with members of the campaign.
The source said Harris’ team wanted to know more about cryptocurrencies, calling the discussion itself a “relatively high-level introductory conversation.” They said her team asked why cryptocurrencies were getting so much attention and wanted more information about past conversations the crypto industry had had with President Joe Biden. Advisor.
“I think they know this is important,” the source said. “They want to take a stance on it… They’re going to take their time.”
Harris’s spokesman, Kevin Munoz, did not respond to The Block’s request for comment.
Harris has become the likely Democratic candidate to run against former President Donald Trump in the upcoming election. Biden announce On Sunday, he announced that he would not seek reelection in 2024 and that he was endorsing Harris as the Democratic candidate to replace him.
Meanwhile, Trump I promised He reportedly wanted to end the “illegal and un-American crackdown” on the U.S. cryptocurrency industry and called himself the first cryptocurrency president.
In terms of money, political action committees have raised millions of dollars ahead of the upcoming election. Fairshake, a cryptocurrency advocacy group, recently biggest Super PACs have raised more than $200 million this election cycle.
Harris’ team also spoke with billionaire Mark Cuban, Cuban said. Decode On Wednesday, Harris’ close advisers began asking her about cryptocurrencies, the person said. Cuban did not respond to a request for comment.
Blockchain Association CEO Christine Smith said she has reached out to the Harris campaign and hopes to hear from them soon. Smith also told Harris that he wanted to make clear to the industry that “careful regulation” is needed.
Smith later added, “I think there’s a really new opportunity for her to demonstrate leadership at the highest level of the Democratic Party.”
Crypto isn’t going anywhere, and both campaigns should be talking about it, Biden’s former senior adviser Moe Vela said in an interview. More than 75 million people in the U.S. are involved in crypto, Vela said, adding that other statistics It is said that 21% of Americans own cryptocurrency.
“From a political standpoint, I think it’s absolutely essential. I mean, it would be foolish for either campaign to not recognize the political power of 75 million-plus potential voters,” Bella said. “I don’t know of any data that shows that these are disproportionately single-issue voters. But even if they’re not single-issue voters, you still need to, as a candidate for president of this country, articulate a vision for how cryptocurrencies will be integrated into our banking and financial and investment systems.”
Bella said cryptocurrencies may fall slightly down the candidates’ priority list, noting that they are not among the top three issues, given other priorities such as war, immigration and the economy.
Vela, who is also a senior adviser to cryptocurrency Unicoin, said he reached out to Harris’ campaign within an hour of Biden’s announcement on Sunday.
The Impact of a Harris Presidency on Cryptocurrencies
The Harris team has already shown it will break with the Biden administration on the following issues: national security, Sheila Warren, CEO of the Crypto Council for Innovation, told The Block:
“She’s blazing a trail, and there’s no reason to believe that crypto policy won’t be part of that,” Warren said. “If anything, all the evidence that I think is actually concrete shows that she’s going to have an open mind and make her own decisions about things.”
Harris is open to technology and understands job growth, Warren said. “The fact that they’re already having conversations and quietly expressing interest is really significant and a really good sign,” she added.
The Blockchain Association CEO said Harris may want to bring in her own people to lead federal agencies, including the Securities and Exchange Commission.
“If she decides to keep Gary Gensler, it would be incredibly disappointing given all the damage he has done to the industry over the last three years. But if she is elected, I have hope that she will bring new leadership, particularly to the SEC,” Smith said.
Smith added that if Trump is elected, “there is a huge expectation that he will put the right people in place at the agency to help create a more crypto-friendly environment.” That includes Gensler, who Smith said is likely to be replaced by one of the SEC’s Republican commissioners.
Harris needs to differentiate herself from President Biden, said Vella, a former Biden adviser.
“Crypto is one area where she can differentiate herself,” Bella said. “She’s very pragmatic, tough and incredibly smart.”
Bella raised the issue of cryptocurrencies and said it could be an opportunity for her. He said her campaign proposed a roundtable discussion with leaders in the crypto industry.
“They were receptive to my suggestion,” he said. “That doesn’t mean they will do it.”
‘Noisy minority’
While some in the industry have embraced Trump as a pro-crypto candidate, CCI’s Warren said crypto should be a two-party system..
Warren said there was a “small minority in the crypto industry, especially on social media, who were calling themselves ‘Trump or bust.’”
“There are a lot of us who are not as enthusiastic about social media, but there are a few of us who have said since the beginning of time — I’m one of them — that we need to have a two-party system,” Warren added. “Personal politics have no place in that.”
Bella said too many people in the crypto industry are “fucked by Donald Trump’s flattery.” While Trump has advocated a “lighter approach” to crypto regulation, Harris has taken a more stringent stance on crypto regulation. Brookings InstitutionNonpartisan think tank.
Several key figures in the cryptocurrency industry have thrown their weight behind Trump.
Gemini Co-Founders Tyler and Cameron Winklevoss Donated $2 Million Worth of Bitcoin to Trump. Cameron Winklevoss said on X that she plans to vote for Trump, calling the former president “pro-Bitcoin, pro-crypto, pro-business.”
Former Messari CEO Ryan Selkis has been particularly outspoken about his support for Trump over X. resigned After making harsh political comments publicly last week about those who voted against Trump.
Smith, CEO of the Blockchain Association, said that overall, crypto industry executives are looking to future presidential and congressional candidates who support crypto.
“It’s happening on both sides,” Smith said. “I think there are a lot of people who want to see what Harris does or signals to establish her position on crypto, but Trump has been very forward-looking over the last few months.”
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