- Kamala Harris’s campaign advisors are reaching out to major crypto firms like Coinbase, Circle, and Ripple Labs for regulatory insights.
- Donald Trump pledges to fire SEC Chair Gary Gensler and appoint crypto-friendly regulators if re-elected in 2024.
- The Democratic Party aims to repair ties with the crypto sector, responding to internal divisions and mounting criticism.
Vice President Kamala Harris’s campaign has confirmed her advisors have been actively reaching out to key players in cryptocurrency industry. This outreach includes prominent firms such as Coinbase, Circle, and Ripple Labs. The campaign aims to convey the message that the Democratic Party is now ‘pro-business’ and supports ‘responsible business’ practices.
Harris’s elevation to the top of the Democratic presidential ticket is seen as an opportunity to reset relations with the crypto sector. This move is particularly significant given the current political climate. The presidential election has become a major fault line dividing the sector.
Outreach to the crypto industry is part of a broader strategy. It seeks to rebuild relationships and foster a more collaborative environment between government and crypto companies.
The campaign’s efforts come at a time when former President Donald Trump has also been making proposals for the crypto sector. Trump, who previously criticized cryptocurrencies, is now fully supportive of digital assets. He has even promised to fire SEC Chairman Gary Gensler and end policies that hinder crypto investors and companies if he is re-elected.
The outreach by Harris’s campaign is also seen as a response to internal divisions within Democratic Party regarding crypto policy. Some Democrats have been vocal critics of industry. Others including billionaire Mark Cuban have called for a more supportive approach. By engaging with major crypto firms Harris aims to position herself and Democratic Party as allies of the crypto sector.
The Harris campaign’s engagement with the crypto industry marks a significant shift in the Democratic Party’s approach to digital assets. This outreach is part of a broader strategy to rebuild relations with the sector and position the party as pro-business and supportive of responsible innovation.
