Kamala Harris, the Vice President of the United States and a prominent figure in the Democratic Party, has announced her support for the cryptocurrency market, according to senior campaign adviser Brian Nelson. This shift comes after the Democratic National Convention (DNC) faced criticism for omitting cryptocurrencies from its platform and the Biden administration’s perceived harsh stance on the market.
Kamala Harris To Support Crypto
According to Nelson, Harris will champion pro-crypto policies that promote growth in the emerging technology sector. Speaking at the DNC, Nelson emphasized Harris’s commitment to creating a stable regulatory environment for the crypto industry. The crypto community has been vocal about the need for clear, consistent rules, especially amid ongoing lawsuits by the Securities and Exchange Commission (SEC) that have created regulatory uncertainty.
Crypto stakeholders are particularly eager for changes in the current rule-making processes that could eliminate bottlenecks driving investment away from the United States to more favorable jurisdictions. Nelson highlighted Harris’s focus on reducing bureaucratic obstacles, promoting innovation, and protecting consumers within a transparent and consistent framework.
Pro-Market Momentum Surges
With the 2024 U.S. Presidential elections approaching, Harris’s support for crypto comes as part of a broader trend of candidates adopting a pro-market stance to attract crypto voters. Although Harris had previously remained cautious about the sector, her latest position suggests a growing recognition of the importance of emerging technologies in shaping the future of the economy.
This stance contrasts with former President Donald Trump’s more overtly pro-crypto stance, which has garnered significant support from industry executives. As the political landscape shifts, both Harris and Trump are positioning themselves as key advocates for the sector, with industry leaders contributing large sums to support pro-crypto candidates in the upcoming elections.
Crypto has also made significant headway in Congress this year, with digital asset bills gaining bipartisan backing.
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