Senior leaders from Kamala Harris’s campaign are meeting with a close-knit group of crypto experts to discuss policies on the cryptocurrency industry, as hopes of the latter rise. However, experts say that no major announcement can be expected before the November-bound elections. So far it looks like the Vice President would not get into discussions about a clear-cut plan for cryptocurrencies. The few experts who seem to be in contact with her about crypto policies and regulations have mentioned slow yet steady progress from the Vice President.
This falls in conjunction with the $27 million New York fundraiser where the Democrat candidate spoke of her crypto support for the first time. She stated that she would “encourage innovative technologies like AI and digital assets [crypto] while protecting consumers and investors”. It was also confirmed that Harris would speak of cryptocurrency like any other economic policy and would not like to pay more attention to one than the other. The 59-year-old also mentioned she would slash “needless bureaucracy” in passing, probably hinting at the harsh regulatory restrictions that currently shadow the cryptocurrency landscape.
Currently, the Harris campaign officials are in talks with some of the brightest minds in crypto, such as experts from Ripple Labs and the Chief Legal Officer of Coinbase, Paul Grewal. “All we want are sensible rules and we’ll follow them,” said Grewal, shedding light on Ripple’s multifaceted legal debacle with the Securities and Exchange Commission.
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Grewal also mentioned that he was “encouraged” by the Democratic candidate’s campaign response. “Their understanding of what the industry and crypto investors alike need from a Harris administration, should one come to pass, is growing in sophistication and depth,” quoted the legal officer. On the other side of the crypto war is Donald Trump, the 45th president of the United States, who is the historically first president to have paid in Bitcoin for what he called “crypto burgers”.
According to Paul Grewal, cryptocurrency regulations are speeding up with Trump and Harris campaign officials meeting with crypto experts frequently. However, like all policy choices, crypto policies would also need time to come to fruition quoting, “Sometimes things just take a little bit longer than any of us might like,”. Aiding Harris in her crypto policies is another expert and former Trump advisor, Anthony Scaramucci who is also the managing partner and the founder of SkyBridge Capital, an SEC-registered asset manager.