In a surprising move, U.S. Vice President Kamala Harris has finally addressed the growing crypto space, signaling the Democratic Party’s support for emerging technologies like cryptocurrencies and AI. Despite this, industry experts remain skeptical, questioning whether her comments will lead to concrete actions or just more political rhetoric.
Kamala Harris has stated for the first time that the Democrats will support new technologies like AI and digital currencies, while also making sure to protect consumers and investors.
Kamala Harris Finally Addresses Stance on Digital Assets Amid 2024 Presidential Race
Kamala Harris, the Democratic Party’s 2024 presidential candidate, had remained largely silent on her stance regarding digital assets, leaving many in the cryptocurrency industry to speculate on her position. That is, until now. In a recent speech to donors in New York, Harris broke her silence, addressing the future of digital assets alongside other technologies like artificial intelligence (AI) and clean energy.
Harris Pledges Support for Digital Innovation and Consumer Protection
In her remarks, Harris underscored the importance of investing in the future of American competitiveness. She expressed her support for emerging technologies, stating, “We will partner together to invest in America’s competitiveness, to invest in America’s future. We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors.”
The vice president also highlighted the need for consistent and transparent regulations to ensure a safe business environment. Harris pledged to reduce bureaucracy and to invest in key sectors like semiconductors, clean energy, and other future industries, reinforcing her vision of positioning the U.S. as a leader in digital innovation.
Mixed Reactions from the Crypto Community
Harris’s remarks have drawn a mixed response from the cryptocurrency industry. Faryar Shirzad, Coinbase’s policy chief, described her statement as “important and constructive” but noted that it lacked the bold, forward-thinking vision seen in some of her political opponents. “It’s not nearly as forward-leaning as the concrete and visionary positions taken by Donald Trump,” Shirzad said, “but it’s still notable because she recognizes digital asset innovation as being important and on par with AI.”
However, Harris’s comments have also faced significant criticism. Many in the industry argue that her statements come too late, pointing out that, as part of the current administration, she had ample time to introduce concrete action but failed to do so. Some have dismissed her remarks as mere rhetoric aimed at appeasing donors rather than offering meaningful policy changes.
Trump’s Pro-Crypto Stance and Rising Support for Harris
Harris’s delayed stance on cryptocurrency has left a vacuum that Donald Trump has been quick to fill, branding himself as the “Crypto President.” Trump has made bold promises to deregulate the industry, including firing SEC Chairman Gary Gensler and ending policies that he claims stifle innovation. “If crypto is going to define the future, I want it mined, minted, and made in the USA,” Trump stated at the Bitcoin 2024 conference.
Despite Trump’s aggressive crypto rhetoric, his recent poor performance in the first live 2024 presidential debate has seen his lead shrink in the polls. As of now, Harris holds 52% odds of winning according to Polymarket, compared to Trump’s 47%, with her leading in four of the six swing states.
Ripple co-founder Chris Larsen has also thrown his support behind Harris, joining 88 other executives in a letter that endorsed her candidacy. The letter described electing Harris as “the best way to support the continued strength, security, and reliability of our democracy and economy.”
While Harris’s recent statements on digital assets may not have fully convinced the crypto industry, her rising support suggests that her broader economic vision is resonating with influential figures and voters alike.
Reference: Blockhead
