With the election heating up, the crypto industry has been skeptical that Vice President Kamala Harris will back measures to help grow digital assets.
President Donald Trump has already made it known that he favors decreasing regulation and while he once called cryptocurrency a scam, he now owns at least $1 million in digital currency.
At the Democratic National Convention held on Wednesday (August 21), the senior campaign advisor for policy Brian Nelson said: “She’s [Vice President Kamala Harris] going to support policies that ensure that emerging technologies and that sort of industry can continue to grow…
“They’ve expressed that one of the things they need are stable rules, rules of the road…”
Harris’ team has suggested they’re still interested in implementing safeguards in the industry.
During an event in the swing state of North Carolina last week, the Vice President didn’t specifically mention digital assets but did vow that if elected she would “focus on cutting needless bureaucracy and unnecessary red tape.”
She also indicated she would encourage “innovative technologies while protecting consumers and creating a stable business environment with consistent and transparent rules of the road.”
‘If you’re for crypto you better vote for Trump,’
While Harris’ words around the crypto industry seem favorable, it’s President Donald Trump who has garnered most of the support from the sector, he remains popular with crypto investors and traders.
Trump even said “if you’re for crypto, you better vote for Trump” at a gathering at his Mar-A-Lago resort in May.
“I’m good with Crypto. If you’re for crypto you better vote for Trump.” pic.twitter.com/3ScdE0TfPR
— Autism Capital
(@AutismCapital) May 9, 2024
Since then, the Republican candidate has gained a following in the industry. In July, a political action committee was formed supporting Trump’s presidential bid and it attracted significant backing from prominent figures in the cryptocurrency space.
As the election edges closer, both candidates will likely be asked about their stances on the subject and the regulations around the industry.
Featured Image: Via Gage Skidmore on Wikimedia Commons
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