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Bitcoin

VP Kamala Harris Expected To Reveal Bitcoin Stance Soon, Influenced By ‘Crypto Guy’ Husband

Ronaldo Marquez
by Ronaldo Marquez
1 year ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The crypto world was abuzz this week with rumors that Kamala Harris, the newly declared Democratic presidential candidate, was in talks to speak at the Bitcoin 2024 conference in Nashville. 

While the campaign ultimately confirmed that Harris would not be able to attend, the fact that her team was seriously considering the invitation signals a potential shift in the Democratic Party’s approach to digital assets, as crypto has played a key role in the presidential race.

Harris’ Rumored Pro-Bitcoin Advisors

Under the Biden administration, crypto has faced an increasingly hostile regulatory environment, with the Securities and Exchange Commission (SEC) ramping up enforcement actions against various firms in the industry, including Binance, Coinbase, and Ripple. 

Biden’s economic advisors have included outspoken crypto critics such as Senator Elizabeth Warren, casting a pall of uncertainty over the future of digital assets, in stark contrast to the approval of spot Bitcoin and Ethereum ETF markets in January and last Monday, respectively.

Related Reading: FTX Japan Fully Acquired By BitFlyer, Eyes Launch Of Crypto Spot ETFs – Details

However, sources from the Harris campaign suggest that the California senator may be “more open-minded” regarding cryptocurrency and blockchain technology. 

According to one crypto lobbyist and former White House advisor who spoke to Fortune on the condition of anonymity, her tech advisor is believed to be pro-crypto, and her husband, Douglas Emhoff, is a “crypto guy.” crypto lobbyist said:

She doesn’t have a lot of time to redefine herself. She has a very short window to kind of definitively say that she’s her own person.

Adding to the potential shift in stance on crypto, billionaire investor and Bitcoin enthusiast Mark Cuban revealed that he has received “multiple questions from the Harris camp about crypto,” further fueling hopes that a Harris presidency could usher in a more collaborative approach between regulators and key industry players.

Kamala Harris’ California Ties And Pro-Business Record 

The contrast with the Biden administration’s position is strong. “President Joe Biden’s campaign would have offered an automatic rejection” of an invitation to speak at the Bitcoin 2024 conference, according to the Fortune report. 

The current White House has been slow to pass crypto-related legislation in Congress, while the SEC has ramped up enforcement actions under the leadership of Chairman Gary Gensler.

On the other hand, Kamala Harris has a history of advocating for Silicon Valley as a US senator representing California. The report notes that she has cultivated “close relationships” with tech industry leaders, including Meta’s Sheryl Sandberg, earning a reputation as a pro-business politician.

Related Reading: Bitcoin Is The Path To Transactional Freedom, Robert K. Kennedy Declares

This background, combined with the “crypto-friendly” connections within her own team, has the industry hopeful that a Harris presidency could significantly shift the government’s approach to digital assets. 

However, it remains to be seen whether these hopes will translate into concrete policy changes in the months and years ahead.

Bitcoin
The 1D chart shows that BTC’s price is trending upward. Source: BTCUSDT on TradingView.com

At the time of writing, Bitcoin was trading at $67,590, up over 4% in the past 24 hours from a weekly low of $63,500. 

Featured image from DALL-E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ronaldo Marquez

Ronaldo Marquez

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Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

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