Supporters of Vice President Kamala Harris in the crypto industry are reportedly mobilizing to organize at least eight fundraising events in major US cities to bolster her campaign for the upcoming election.
Crypto Industry Seeks Change
Dubbed the Crypto4Harris initiative, these events will take place in locations including Miami, Atlanta, Los Angeles, New York, Dallas, Chicago, San Francisco, and Philadelphia in the second half of September and early October, according to Bloomberg.
Co-organizer Amanda Wick told Bloomberg the importance of these fundraisers as a platform to “elevate the crypto industry’s profile within the Harris campaign.” The goal is to encourage the vice president to adopt more favorable policies for the decentralized finance (DeFi) sector.
Under the Biden administration, the crypto landscape has been scrutinized, with regulators like the Securities and Exchange Commission (SEC) taking action against several crypto companies.
At the same time, legislative efforts that could ease operational burdens for crypto companies have stalled in Congress. Wick noted the prevailing sentiment in the crypto community by stating:
Our system, sadly, is too often ‘pay to play,’ and many folks in the crypto industry know that, but they’ve been burned by four years of terrible policy under Biden and are reluctant to give until Harris shows signs of a pivot. But there is a massive amount of money and votes in crypto just waiting for that sign. We are working with the campaign especially hard to get some indication of a pivot before it’s too late and that money and those votes are lost for good
Will Harris Address Digital Asset Concerns In Future Speeches?
While Republican presidential nominee Donald Trump has publicly vowed to champion the crypto industry and make sweeping changes, including firing SEC Chairman Gary Gensler, Harris has yet to clearly articulate her stance on digital assets.
However, Harris’ campaign has engaged in discussions with virtual asset stakeholders, and a senior advisor, Brian Nelson, recently indicated that Harris intends to support policies that foster the industry’s growth.
Nelson said the vice president will support policies that ensure emerging technologies can continue to grow. He acknowledged the industry’s desire for “stable rules, rules of the road,” a theme that resonated during Harris’ recent campaign appearances.
Despite these assurances, Harris’s approach contrasts sharply with Trump’s rhetoric, who has branded himself as the first “crypto president”. It openly supports using Bitcoin to address the nation’s staggering $35 trillion debt.
Ultimately, Bloomberg noted that as the fundraising efforts gain momentum, the digital asset community remains optimistic about Harris’s potential pivot towards more supportive regulations.
Whether the vice president will address digital asset issues directly in future speeches. Still, the sentiment among supporters is clear: they hope for a shift away from the current regulatory enforcement approach that has characterized the industry’s recent experiences.
Featured image from DALL-E, chart from TradingView.com