This week, the crypto world has been awash with rumors like this: Kamala HarrisThe newly introduced Democratic presidential candidate is talking on the Bitcoin 2024 convention in Nashville.
Though the occasion finally comfirmed Whereas Harris is unable to attend, the truth that her staff is severely contemplating an invite suggests a attainable shift in Democratic attitudes towards digital belongings as cryptocurrencies play a key function within the presidential race.
Harris’ Rumored Professional-Bitcoin Advisor
Cryptocurrencies face an more and more hostile regulatory atmosphere beneath the Biden administration, with the Securities and Trade Fee (SEC) stepping up efforts law enforcement actions Tackle a number of corporations within the business, together with Binance, Coinbase, and Ripple.
Biden’s financial advisers embrace outspoken critics of cryptocurrencies resembling Senator Elizabeth Warren, casting a layer of uncertainty over the way forward for digital belongings following the approval of spot tokens in January and final Monday. The Bitcoin and Ethereum ETF markets are in stark distinction.
Nonetheless, sources throughout the Harris marketing campaign point out that the California senator could also be “extra open” to cryptocurrencies and blockchain know-how.
A cryptocurrency lobbyist and former White Home adviser says spoke Chatting with Fortune on situation of anonymity, her technical advisor is taken into account a cryptocurrency supporter, whereas her husband, Douglas Emhoff, is a “cryptocurrency skilled.” Crypto lobbyist says:
She would not have a lot time to redefine herself. She has solely a short while earlier than she will be able to unequivocally say she is herself.
Billionaire investor and Bitcoin fanatic Mark Cuban fuels potential shift in stance on cryptocurrencies disclose He acquired “a number of questions from Harris’ camp concerning cryptocurrencies,” additional fueling hopes {that a} Harris presidency might usher in a extra collaborative method between regulators and main business gamers.
Kamala Harris’ ties to California and pro-business document
That is in stark distinction to the Biden administration’s stance. In keeping with Fortune, “President Joe Biden’s marketing campaign will routinely decline” an invite to talk on the Bitcoin 2024 convention.
Progress within the present White Home is sluggish Encryption related legislation In the meantime, the SEC has stepped up enforcement efforts beneath Chairman Gary Gensler.
Kamala Harris, however, has a historical past of advocating for Silicon Valley as a U.S. senator representing California. The report notes that she has developed “shut relationships” with tech business leaders, together with Meta’s Sheryl Sandberg, and has earned a fame as a pro-business politician.
This background, coupled with “crypto-friendly” connections inside her personal staff, the business hopes a Harris presidency will considerably change the administration’s method digital assets.
Nonetheless, it stays to be seen whether or not these hopes will translate into concrete coverage adjustments within the coming months and years.
On the time of writing, Bitcoin is buying and selling at $67,590, up greater than 4% from its weekly low of $63,500 prior to now 24 hours.
Featured pictures from DALL-E, charts from TradingView.com
