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If Kamala Harris steps into the presidency, the crypto world could experience a shift away from the current harsh regulatory landscape under the Democratic administration. However, TD Cowen advises caution, as Harris's administration might not be as favorable to the crypto industry as some might hope. Although she may be less adversarial than President Biden, who, along with SEC Chair Gary Gensler and Senator Elizabeth Warren, has been relentlessly tough on crypto, Harris’s stance on digital assets remains largely undefined. This leaves the industry in a state of uncertainty, unsure whether to anticipate positive changes or prepare for more stringent regulations.Kamala Harris, who has recently seen a significant rise in popularity, has yet to make her position on cryptocurrency clear. In contrast, Donald Trump, who once dismissed Bitcoin as a scam, has dramatically changed his tune, now actively engaging with the crypto community. Despite this newfound support, history suggests that campaign promises don’t always translate into policy, leaving the future of crypto regulation under either candidate uncertain. Regardless of whether it’s Harris or Trump who takes office, the crypto industry may still face significant challenges. While both could potentially support crypto market legislation if Congress acts, any bill signed by Harris might come with stricter rules, making it difficult for the industry to see significant change.