Vice President Kamala Harris has publicly addressed cryptocurrency for the first time during her campaign for the US presidency, affirming her encouragement of investment in AI and digital assets. Harris emphasized the need for a safe business environment with consistent and transparent regulation and the importance of protecting consumers and investors. This statement is a first since her role as the Democratic Party’s presidential frontrunner.
This announcement has been eagerly anticipated by the crypto industry, which has been looking to see if Harris will diverge from President Joe Biden’s perceived unfriendly stance towards the sector. In the preceding month, Brian Nelson, Harris’ senior campaign adviser, insinuated she would be supportive of cryptocurrency policies and stressed the need for regulation to prevent the collapse of related businesses.
Responses from key industry figures were mixed. Coinbase policy chief, Faryar Shirzad, referred to the statement as significant and constructive, appreciating Harris’s recognition of digital assets as being as important as AI. On the other hand, Variant’s legal chief, Jake Chervinsky, expressed concern; he suggested that the mentioned consumer and investor protection could be used as a mask by those aiming to undermine the industry and called for more specifics on the policy details.
This campaign issue is in response to US crypto companies investing significant funds to influence the upcoming elections. Trump, aiming to establish himself as the “crypto president”, has embraced the crypto industry, promising to back his family’s crypto platform and release non-fungible tokens (NFTs). The election competition remains closely contested, with Harris currently leading Trump by a limited 2.9 percentage points.