According to TechFlow, on July 28, sources told the Financial Times that U.S. Vice President Kamala Harris’ campaign advisers recently contacted key figures in the crypto industry to build relationships and ultimately develop a regulatory framework. It is reported that these contacts include crypto exchange Coinbase, stablecoin company Circle, and blockchain payment company Ripple Labs.

Sources said Harris hopes to convey the message that the Democratic Party is "pro-business, pro-responsible business." Her advancement in the Democratic presidential nomination is also seen as an opportunity to reset relations with the technology industry after the Biden administration's regulatory stance caused resentment in this traditionally more liberal industry.