Kamala Harris will support pro-crypto policies to grow the emerging technology market and industry, a campaign aide noted. This comes after a strong backlash over the DNC’s refusal to tackle the cryptocurrency Platform, coupled with the Biden administration’s tough stance on the market. Crypto continues to garner mainstream attention as the US presidential election approaches.
Kamala Harris supports cryptocurrency
Kamala Harris will support pro-crypto policies that will grow the industry and emerging technologies. BloombergBrian Nelson, a senior campaign adviser, said at the Democratic National Convention that Harris would support emerging technologies that address efforts to engage the crypto community.
“Obviously, they have expressed that one of the things they need is stable rules, rules of the road.
Major cryptocurrency players are eager to see a change in rules and an end to lock-in policies that could divert investment from the country to jurisdictions with clearer rules. The slew of lawsuits filed by the Securities and Exchange Commission (SEC) and other regulators has also made the status quo much more restrictive for innovation, market watchers say.
However, Harris’ supporters are clinging to Harris’ positive statements, which allude to cutting red tape and promoting innovative technologies. “…“We are focused on reducing unnecessary bureaucracy and red tape… on innovative technologies while protecting consumers and creating a stable business environment with consistent and transparent rules of conduct.”
This comes amid backlash from the DNC which has banned crypto from its platform unlike its main rival Donald Trump and a controversial tax plan.
Market dynamics are accelerating
Ahead of the election, candidates have taken a pro-market approach, wooing crypto voters with various promises. While Kamala Harris’ approach has remained reserved, Donald Trump has supported the sector by promising innovation-friendly regulation. As a result, the majority of industry executives have backed the former president, even as Harris supporters try to rally the market.
Cryptocurrencies have also made significant progress in Congress this year, with digital asset bills receiving varying levels of bipartisan support. Industry leaders have also donated huge amounts to Super PACs to support pro-crypto candidates in the upcoming elections.
David Pokima
David is a financial news contributor with 4 years of experience in Blockchain technology and cryptocurrencies. He is interested in emerging technologies and has an eye for breaking news. Staying abreast of trends, David has reported on several niches including regulation, partnerships, crypto assets, stocks, NFTs, and more. Outside of financial markets, David enjoys cycling and horse riding.
Disclaimer: The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication does not assume any responsibility for your personal financial losses.
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