As President Biden has decided against running in the 2024 presidential election, Vice President Kamala Harris has emerged as the presumptive Democratic nominee. In response, a new advocacy group, Crypto4Harris, is mobilizing support for Harris within the cryptocurrency community, even as former President Donald Trump positions himself as a “crypto candidate.”
Crypto4Harris and Harris's Silence on Crypto
Crypto4Harris recently hosted its inaugural virtual event to back Harris’s campaign and encourage her to shift away from the Biden administration's stringent stance on cryptocurrency. Despite the support from various Democratic leaders, including Senate Majority Leader Chuck Schumer, Harris herself has remained silent on crypto issues, and her recent policy announcements have not addressed the sector.
Shift in Focus: AI Over Crypto
Senate Majority Leader Chuck Schumer’s recent letter to his Senate colleagues highlighted a shift in priorities, with artificial intelligence (AI) now taking precedence over cryptocurrency legislation. This change has raised concerns among crypto advocates who had anticipated more regulatory clarity on digital assets.
Crypto Community’s Continued Support for Harris
Despite Harris’s lack of explicit support for cryptocurrency, notable figures in the crypto world, such as Ripple co-founder Chris Larsen and 88 other industry executives, continue to back her candidacy. There have been reports suggesting that Harris is accepting crypto donations through Coinbase, but a review of her official donation channels reveals no such option.
Trump’s Crypto Stance and Upcoming Debate
Former President Donald Trump has been vocal about his plans to make the U.S. a leader in cryptocurrency if re-elected. In a recent speech at the Economic Club of New York, Trump expressed his commitment to supporting future industries like crypto and Bitcoin, unveiling a new initiative called World Liberty Financial.
The upcoming debate between Trump and Harris on September 10 is generating significant interest within the crypto market. According to betting platform Polymarket, Trump currently has a 52% chance of winning compared to Harris’s 47%.
Conclusion
As the 2024 presidential race heats up, the crypto community is closely watching the candidates' positions on digital assets. With Harris's silence on crypto and Trump's clear stance, the outcome of the upcoming debate could have significant implications for the future of cryptocurrency regulation in the U.S.
September 2024, Cryptoniteuae